The Federal Housing Administration on Monday issued a temporary waiver of its Single-Family Housing Policy Handbook 4000.1 to temporarily suspend the requirement that mortgagees select and review all Early Payment Defaults on a monthly basis.
Category: News and Trends
CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’
The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.
Lori Brewer: The Road to Recovery Will be Paved with Data
In a time when everything spells uncertainty, data gives lenders something to hold on to — and a path forward. What performance metrics are most critical for lenders to keep an eye on right now to help their businesses survive the recession and what’s likely to be a protracted recovery?
MBA Data Systems Updates to Take Place June 25-29
Beginning Thursday, June 25, the Mortgage Bankers Association will begin replacing its Association Management System, which will result in some disruptions for MBA members.
Sherwood Lawrence: Does the LO Have a Future in the Digital Mortgage World?
The digital mortgage revolution doesn’t take sides, but that doesn’t mean there won’t be casualties. The march toward efficient loan transactions will permanently redefine the roles of the mortgage lender and loan officer, radically transforming the entire production line of mortgage origination.
MBA Education Path to Diversity Scholar Profile: Saket Nigam
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
FHA Issues Temporary Waiver Suspending Early Payment Default Reviews
The Federal Housing Administration yesterday issued a temporary waiver of its Single Family Housing Policy Handbook4000.1 to temporarily suspend the requirement that mortgagees select and review all Early Payment Defaults on a monthly basis.
CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’
The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.
Quote
“MBA appreciates the CFPB’s proposed changes to the QM Rule and extension of the GSE Patch. As proposed, the regulatory changes would seek to ensure creditworthy borrowers have access to sustainable mortgage credit without disruption to the overall mortgage market. MBA looks forward to reviewing and commenting on both rules, and we will continue to work with policymakers and all other stakeholders to ensure borrowers are both protected and have access to credit throughout the mortgage lending process.”
–MBA President and CEO Bob Broeksmit, CMB, on the Consumer Financial Protection Bureau’s Notice of Proposed Rulemakings to change its Qualified Mortgage rule and extend the GSE “patch” for GSE loans.
May Existing Home Sales Down Nearly 10%–But Analysts See Upside
Existing home sales fell by nearly 10 percent in May from April—the third consecutive monthly decline in the wake of the coronavirus outbreak—the National Association of Realtors reported yesterday. But analysts saw positive signals despite the drop, as first-time buyer and Millennial demand showed signs of intensifying.