The COVID-19 pandemic has hit borrowers hard. But mortgage servicers are eager to help.
Tag: MBA Annual20
Carson: FHA Will Extend Forbearance Requests Through Year-End
HUD Secretary Ben Carson announced the Federal Housing Administration will extend the date for single-family homeowners with FHA-insured mortgages to request an initial forbearance from their mortgage servicer for up to six months.
CFPB Extends GSE Patch ‘Indefinitely;’ Kraninger Stresses Flexibility
In a wide-ranging discussion during the Mortgage Bankers Association’s virtual Annual Convention & Expo, Consumer Financial Protection Bureau Direcgor Kathy Kraninger told MBA Chair Susan Stewart that the Bureau would continue to move forward with its agenda of easing regulatory burdens and providing mortgage lenders and servicers with greater flexibilities in working with customers.
MBA Forecast: 2020 Best Year For Industry Since 2003; 2021 Purchase Originations to Increase to Record $1.54 Trillion
In its latest forecast, the Mortgage Bankers Association said purchase originations are expected to grow by 8.5% to a record $1.54 trillion in 2021. And after a substantial 70.9% jump in activity in 2020, MBA anticipates refinance originations to slow next year, decreasing by 46.3% to $946 billion.
MBA Annual20: FHFA Proposes Rule for New Enterprise Products, Activities
Federal Housing Finance Agency Mark Calabria yesterday told MBA members that the agency wants comments on a proposed rule that would require Fannie Mae and Freddie Mac to obtain approval for new products and notice before engaging in new activity.