The GSEs saw an uptick in uninsured mortgage business from the second to the third quarter, while FHA purchase and refi volume surged. (Includes three data tables.)
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Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.
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Mark Jones, 2024 chairman of the Mortgage Bankers Association, sympathized with lenders who are going through the uncertainties of a steep market downturn.
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The proposed capital rule would not only push banks to rethink their mortgage activity, it would also concentrate a lot of lending power on Wall Street, according to panelists at the MBA’s annual convention.
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Protecting customer relationships should be increasingly important for servicers now as the connections will be valuable when interest rates eventually drop, said panelists at the MBA’s annual convention.
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In the smoke and dust of a production collapse is the best time to be a buyer of other shops. That’s the philosophy of CMG Mortgage, now a top-20-ranked lender that should continue to climb in the league tables.
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A joint statement from the Consumer Financial Protection Bureau and Department of Justice said some uses of immigration status in credit decisioning may be prohibited by the Equal Credit Opportunity Act.
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