Mortgage bankers and consumer lenders of every stripe have their plates full right now, so some may have missed a significant development or not had the bandwidth to consider its implications. One of America’s primary investors in loans to consumers has lost confidence in automated systems used for verifying loan applicants’ current employment status, accelerating an already-in-motion shift in how borrowers’ ability to repay needs to be assessed.
Tag: Fannie Mae
California County Ends Controversial PACE Loan Program
Forget the coronavirus—if you want to raise the blood pressure of a mortgage lender or servicer, just say these two words: “PACE loan.”
FHFA Announces New Fannie Mae, Freddie Mac LIBOR Transition Resources
The Federal Housing Finance Agency yesterday announced Fannie Mae and Freddie Mac launched new websites that provide resources for lenders and investors as they transition away from the London Interbank Offered Rate.
California County Ends Controversial PACE Loan Program
Forget the coronavirus—if you want to raise the blood pressure of a mortgage lender or servicer, just say these two words: “PACE loan.”
New Initial Claims at 2.1 Million; Total Claims Top 40 Million
American workers filed an additional 2.1 million initial claims last week, bringing the 10-week total for claims to nearly 41 million, the Labor Department reported yesterday.
To the Point with Bob: FHFA’s Capital Rule and How it Fits into Housing Finance Reform
Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, in his newest blog, discusses latest developments involving the Federal Housing Finance Agency and its re-proposed capital framework for Fannie Mae and Freddie Mac.
Industry Briefs
Black Knight, Jacksonville, Fla., said its McDash Flash Forbearance Tracker, as of May 19, reported 4.75 million homeowners – or 9.0% of all mortgages – have entered into COVID-19 mortgage forbearance plans. Active forbearance volumes increased by just 93,000 over the past week, a more than 70% decline from the 325,000 from the first week of May.
MBA: Share of Mortgage Loans in Forbearance Increases to 8.36%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed loans now in forbearance increased to 8.36% of mortgage servicer volume as of May 17, up from 8.16% the week before. MBA now estimates 4.2 million homeowners are in forbearance plans.
Dealmaker: Arbor Funds $73M in Fannie Mae DUS Loans
Arbor Realty Trust, Uniondale, N.Y., funded $73.2 million in Fannie Mae Delegated Underwriting and Servicing loans in Texas and Kansas
MBA: Share of Mortgage Loans in Forbearance Increases to 8.36%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed loans now in forbearance increased to 8.36% of mortgage servicer volume as of May 17, up from 8.16% the week before. MBA now estimates 4.2 million homeowners are in forbearance plans.