Join MBA policy staff and industry experts this afternoon for a critical discussion on the impact of Wednesday’s GSE announcement on TRID disclosures. While this topic will continue to evolve in the coming days, attendees can expect to learn about the immediate concerns and questions that will most likely impact your business and processes.
Tag: Freddie Mac
MBA Mortgage Action Alliance ‘Call to Action’ Targets GSE Refi Fee
In the wake of new directive by Fannie Mae and Freddie Mac to impose a 50 basis point “Adverse Market Refinance Fee” on most refinance mortgages, effective Sept. 1, the Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a ‘Call to Action’ urging its 50,000 members to contact their members of Congress and the Federal Housing Finance Agency to roll back the directive.
MBA Objects to GSE ‘Adverse Market Refinance Fee’
The Federal Housing Finance Agency yesterday authorized Fannie Mae and Freddie Mac to impose an “Adverse Market Refinance Fee”—a 50 basis-point fee on most refinance mortgages, effective Sept. 1. The after-hours announcements drew a strong rebuke from the Mortgage Bankers Association.
MBA Asks CFPB to Extend GSE ‘Patch’ Sunset
The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.
MBA: Share of Mortgage Loans in Forbearance Decreases for 8th Straight Week
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 23 basis points to 7.44% of mortgage servicers’ portfolio volume as of Aug. 2, down from 7.67% of servicers’ portfolio volume the prior week. MBA estimates 3.7 million homeowners are in forbearance plans.
MBA Asks CFPB to Extend GSE ‘Patch’ Sunset
The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.
MBA: Share of Mortgage Loans in Forbearance Decreases for 8th Straight Week
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 23 basis points to 7.44% of mortgage servicers’ portfolio volume as of Aug. 2, down from 7.67% of servicers’ portfolio volume the prior week. MBA estimates 3.7 million homeowners are in forbearance plans.
MBA: Share of Mortgage Loans in Forbearance Decreases for 8th Straight Week
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 23 basis points to 7.44% of mortgage servicers’ portfolio volume as of Aug. 2, down from 7.67% of servicers’ portfolio volume the prior week. MBA estimates 3.7 million homeowners are in forbearance plans.
Industry Briefs Aug. 11, 2020
Ginnie Mae, Washington, D.C., said issuance of its mortgage-backed securities totaled an agency record of $70.04 billion in July, providing financing for more than 261,000 homeowners and renters.
Dealmaker: JLL Closes $64M in Office, Multifamily Transactions
JLL, Chicago, closed $63.8 million in office and apartment property transactions in Minnesota and Colorado.