The Mortgage Bankers Association and six other industry trade groups filed an amicus brief last week in a court case that could have profound consequences on mortgage debt collection processes.
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,361 on each loan they originated in the first quarter, down from $3,738 per loan in the fourth quarter but still the highest first-quarter net gain in the history of the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.
The share of loans in forbearance haven’t moved much lately–but for the past 14 weeks, they’ve been moving down, the Mortgage Bankers said Monday.
The Mortgage Bankers Association and a half-dozen industry trade groups asked federal regulatory agencies to hold implementation of new credit risk retention guidelines until the Consumer Financial Protection Bureau implements its updated Qualified Mortgage general definition.
June 1 marked the start of the 2021 hurricane season. The National Oceanic and Atmospheric Administration projected another “above-normal” season, with as many as 20 named storms, 6-10 hurricanes and 3-5 major hurricanes (Category 3 or higher).