Twenty-seven House Democrats sent a letter last week to Administration officials urging them to take further steps to allow mortgage borrowers to avoid delinquency and to support mortgage servicers who are working with these borrowers.
Category: News and Trends
FHFA Allows FHLBs to Accept Paycheck Protection Program Loans as Collateral
The Federal Housing Finance Agency announced that Federal Home Loan Banks can accept Paycheck Protection Program loans as collateral when making loans (advances) to their members.
Black Knight ‘First Look:’ March Delinquencies First Sign of Coronavirus Impact
March is usually the strongest month of the year for mortgage performance, says Black Knight, Jacksonville, Fla. Not this year.
FHFA: GSEs Will Purchase Qualified Loans in Forbearance
The Federal Housing Finance Agency said it would approve purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria by Fannie Mae and Freddie Mac.
FHFA: Fannie Mae, Freddie Mac to Use 4-Month Advance Limit for Loans in Forbearance
The Federal Housing Finance Agency last week said it aligned Fannie Mae and Freddie Mac policies regarding servicer obligations to advance scheduled monthly principal and interest payments for single-family mortgage loans.
Redfin: U.S. Housing Market ‘Reverses Course’
In little more than a month, the coronavirus pandemic sent the housing market from a promising spring to a national emergency, said Redfin, Seattle.
MBA Weekly Survey: Share of Mortgage Loans in Forbearance Rises to 5.95%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported the total number of loans now in forbearance jumped from 3.74% of servicers’ portfolio volume in the prior week to 5.95% as of April 12.
MBA: 2019 IMB Production Volumes, Profits Rise
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,470 on each loan they originated in 2019, up from $367 per loan in 2018, the Mortgage Bankers Association reported Friday in its Annual Mortgage Bankers Performance Report.
OCC Issues Guidance on FEMA/Flood Insurance Force-Place Requirements
The Office of the Comptroller of the Currency on Wednesday provided guidance to the Mortgage Bankers Association, addressing conflicts between a recent Federal Emergency Management Agency memo and banking agency flood insurance rules.
CFPB Issues Final Rule Raising HMDA Data Reporting Thresholds
The Consumer Financial Protection Bureau last week issued a final rule raising loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act.