Some of the top aggregators of government-insured correspondent loans pulled back from the market in the second quarter. Retail production grew to 56.5% of FHA/VA lending. (Includes data chart.)
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The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)
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Under the new policy, borrowers must have made at least three consecutive monthly payments post forbearance in order to refinance, down from the standard six-month requirement.
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ClearPath Lending has been slapped with a $625,000 fine for deceptive advertising to veterans, bringing the total amount of fines issued by the CFPB to more than $3 million since July.
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