Reuters, Jan. 11, 2021–Michelle Price, Pete SchroederThe U.S. government on Monday was set to re-open its signature small business pandemic aid program with $284 billion in new funds and revamped …
Category: Top National News
U.S. Banks Cast Wary Eye at Mortgage Borrowers as Forbearance Periods End
Reuters, Jan. 11, 2021–Imani MoiseU.S. banks are struggling to understand how their residential mortgage portfolios will perform this year, because borrower-assistance programs during the pandemic have clouded who will be …
Non-QM Looks To Bounce Back In 2021
National Mortgage Professional, Jan. 8, 2021–Navi PersaudNonqualified mortgage lenders made serious strides at the end of 2020 to put themselves in a position for success in 2021, following a stall …
New Year Sees 2.74 Million Loans in Forbearance
HousingWire, Jan. 8, 2021–Alex Roha According to the Mortgage Bankers Association, of the cumulative forbearance exits from June 1 through Dec. 27, the average number of borrowers who had made …
Housing Industry, Consumer Groups Clash on CFPB Taskforce Results
HousingWire, Jan. 7, 2021–Kelsey RamirezA taskforce established by the Consumer Financial Protection Bureau to examine the existing legal and regulatory environment facing consumers and financial services providers released its recommendations …
Rocket Mortgage Performs First eNote Close on Ginnie Mae Mortgage
HousingWire, Jan. 7, 2021–Kelsey RamirezIn December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae-backed loan as part of a pilot program. Now, it says …
Fed Officials All Backed Bond-Buying Pace, December Minutes Show
Bloomberg, Jan. 6, 2021–Steve MatthewsFederal Reserve officials unanimously backed holding the pace of asset purchases steady when they met last month.“All participants judged that it would be appropriate to continue …
Ocwen, CFPB Mediation Talks End with No Settlement, the Company Says
National Mortgage News, Jan. 6, 2021–Brad Finkelstein (subscription)The regulator’s demands for ending the action were excessive, Ocwen claimed.https://www.nationalmortgagenews.com/news/ocwen-cfpb-mediation-talks-end-with-no-settlement-the-company-says
Democrat Senate Win Could Cut Refinance Wave Short
HousingWire, Jan. 6, 2021–Kelsey RamirezGeorgia held its runoff election on Tuesday, and Democrats appear to have won control of the Senate. Now, housing experts are shifting their 2021 forecasts, theorizing …
MISMO Flags Potential Snag for Lenders in Rollout of New GSE Loan App
National Mortgage News, Jan. 6, 2021–Bonnie Sinnock (subscription)When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many …