First-lien originations fell 10% from the first to the second quarter, but a number of lenders — especially those that focus on purchase-lending and non-agency products — outperformed their peers. (Includes two data charts.)
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The proposed consent order with the Pennsylvania-based mortgage lender, if entered by the court, would be the CFPB’s first redlining resolution with a nonbank.
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Though two prominent nonbank lenders shuttered recently as the refi business slows, there are currently few concerns about the potential for widespread failures of nonbanks.
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The federal government should move forbearance to the front of the loss-mitigation waterfall, researchers at the Urban Institute proposed. A similar policy during the pandemic did more good than harm, they found.
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Fee-for-service partnerships between mortgage lenders and housing counseling agencies could bring scale to the pre-purchase counseling services HCAs offer, according to industry experts.
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Freddie’s income declined by 35% in second quarter; home price appreciation chugged along; loan applications at low levels; delinquencies increase.
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