Inside Mortgage Finance, Oct. 24, 2022–John BancroftTransfers of agency mortgage servicing rights slowed modestly in the third quarter, according to an exclusive Inside Mortgage Trends analysis. But bulk MSR sales …
Category: Top National News
KBRA: Backlog of Redeemable Non-QM Securities Growing
National Mortgage Professional, Oct. 21, 2022–David KrechevskyIn a report issued earlier this month, Kroll Bond Rating Agency LLC noted there is a growing backlog of Non-QM residential mortgage-backed securities that …
PHH Liable for $2M for Denying Loan Modification in Divorce Case
National Mortgage News, Oct. 21, 2022–Brad Finkelstein (subscription)PHH Mortgage Services is liable for $1.86 million following an arbitrator’s ruling finding that it denied a consumer loss mitigation and failed to …
Remote Work Changed Their Lives. They’re Not Going Back to the Office
Washington Post, Oct. 21, 2022–Danielle AbrilAs of late September, 21.6 million people in the United States worked remotely for five days, while 32.3 million worked at the office at least …
Fannie Mae, Freddie Mac Data Should be Public, Trade Groups Say
National Mortgage News, Oct. 20, 2022–Maria Volkova (subscription)The Mortgage Bankers Association in its letter to FHFA’s Director Sandra Thompson argues that Fannie Mae and Freddie Mac, two entities that the …
All of CFPB’s Past Actions Threatened by Appeals Court Decision
American Banker, Oct. 20, 2022–Kate Berry (subscription)An appeals court decision that invalidated the Consumer Financial Protection Bureau’s payday lending rule has far broader implications, potentially opening all of the agency’s …
FHA Share Grew in 3Q22 Agency Purchase Lending
Inside Mortgage Finance, Oct. 20, 2022–John BancroftThe agency secondary market saw a modest increase in purchase-mortgage business from the second to the third quarter of 2022, but private mortgage insurers …
What To Expect From Regulators Post-Midterms
GlobeSt.com, Oct. 20, 2022–Lynn PollackMike Flood of the Mortgage Bankers Association recently wrote in an analysis published by Trepp that “the most likely outcome” is a split Congress, with Republicans …
CFPB Funding Method Found Unconstitutional by Federal Appeals Court
Wall Street Journal, Oct. 19, 2022–Andrew Ackerman (subscription)A federal appeals court found the U.S. Consumer Financial Protection Bureau is funded through an unconstitutional method. The decision, by a three-judge panel …
President Biden’s Plan to Boost Affordable Housing is Unprecedented–and Necessary
Yahoo!Finance, Oct. 19, 2022–Janet Yellin, Marcia FudgeTreasury Secretary and HUD Secretary describe Administration’s efforts to address longer-term affordability challenges such as rising housing costs and housing supply.https://finance.yahoo.com/news/president-bidens-plan-to-boost-affordable-housing-is-unprecedented-and-necessary-160136680.html?guccounter=1