Nonbanks claimed more than half of the owned servicing reported by the top 50 firms in the market as their combined portfolio rose 10% in the second quarter. (Includes three data charts.)
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Almost across the board, origination profitability improved in the July-September period, but some lenders remain nervous and a shake-up could be coming as 2022 approaches.
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Community Reinvestment Act requirements that traditionally have only applied to depositories will be imposed on nonbanks in New York. The MBA warned that the standards are “unworkable.”
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Fannie and Freddie could spend another 15 years in conservatorship before their retained earnings are sufficient under the existing capital rule.
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In his first appearance before congressional leaders, CFPB Director Rohit Chopra addressed his priorities for the bureau, including enforcement and regulations.
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The House Committee on Rules recently unveiled text for the $1.75 trillion Build Back Better legislative framework, which would include $10 billion for a new first-generation downpayment assistance fund.
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