National Mortgage Professional, July 5, 2021–Katie JensenGoldman Sachs successfully fulfilled its $1.8 billion consumer-relief obligation under its 2016 settlement agreements with the U.S. Department of Justice and three states.https://nationalmortgageprofessional.com/news/goldman-sachs-fulfills-18-billion-consumer-relief-obligation
Category: Top National News
PSPA Changes Would Have Marginal Effect on Lenders, Analysts Say
National Mortgage News, July 2, 2021–Brad Finkelstein (subscription)It would be a modest positive for publicly traded mortgage companies if the newly installed acting Federal Housing Finance Agency head reverses some …
Mortgage Servicers Brace for Fallout as COVID Bailout Comes to an End
CNBC, July 2, 2021–Diana OlickThe nation’s mortgage servicers are gearing up for the biggest wave of delinquent loans since the subprime mortgage crisis, but this time they say they are …
Outstanding Commercial/Multifamily Mortgage Debt Rose by $44.6 Billion in Q1
MSN, July 2, 2021–Liz Bruner-SmithA recent report issued by the Mortgage Bankers Association found a $44.6 billion increase in commercial/multifamily debt in the first quarter, a strong sign that multifamily …
Fannie, Freddie Keep MIs Dividend Restrictions, Haircut in Place
National Mortgage News, July 1, 2021–Brad Finkelstein (subscription)Private mortgage insurers can continue to hold less capital for forborne delinquent loans, which helps them potentially upstream payments to parent companies in …
Reverse Lender Can Foreclose on Non-Borrowing Spouse: Fla.’s Top Court
National Mortgage News, July 1, 2021–Brad Finkelstein (subscription)A divided Florida Supreme Court ruling will allow foreclosure on the non-borrowing spouse of a reverse mortgage holder who failed to redeem the …
Can a 40-Year Mortgage Save Failing Borrowers?
Orange County Register, July 1, 2021–Jeff LazersonOn the heels of the July 4 Independence Day weekend celebration, this fall we get to add a loan term extension up to 40 …
What is FHFA’s Next Move?
American Banker, July 1, 2021–Hannah Lang (subscription)Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies …
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End
National Mortgage Professional, June 30, 2021–Navi PersaudThe Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing …
FHFA Lowers Bar for Distressed Borrowers Seeking Loan Modifications
National Mortgage News, June 30, 2021–Bonnie Sinnock (subscription)The Federal Housing Finance Agency on Wednesday eliminated the requirement for distressed borrowers to have a current, market-rate loan-to-value ratio of 80% or …