If the CFPB axes the LO comp rule, what happens?
The Consumer Financial Protection Bureau pinpointed five rules that it wants the White House budget office to review. Details, however, are sparse.
Servicing
Low credit scores in non-QM verge on 10% default rate
Loans with alternative documentation and high combined loan-to-value ratios had more performance concerns, according to a new KBRA study.
Guild Mortgage, Bayview Asset explore servicing M&A
This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper.
Newrez sees growth opportunity from Rocket-Mr. Cooper merger
The lender's parent also said it is actively in preparation to move forward on plans to unlock equity value in 2025, with a Newrez spinoff among its options.
FHA speeds up end to pandemic mortgage relief
The Federal Housing Administration has accelerated the timeline and will make the wait time for repeat home retention requests longer than originally planned.
Foreclosures rise in Q1 as homeowners feel the squeeze
The latest foreclosure report adds to evidence from housing research groups that economic difficulties are beginning to impact a rising number of homeowners.
Refi boomlet likely as mortgage rates start to fall
If mortgage rates drop into the low 6% range, there will be a retention opportunity on 5.4 million loans that have interest rates starting at 6.5%.
Rithm sells largest ever bond backed by homeowners’ mortgage fees
The bonds are tied to rights to collect mortgage payments, known as mortgage servicing rights, and it's only the second such deal that's non-recourse.
Where are the most vulnerable housing markets found?
More than two-thirds of the counties most at risk of a housing downturn were concentrated in five states, according to a new report from Attom.
Foreclosure starts spike 30% as VA lifts foreclosure ban
The Department of Veterans Affairs ended a break for borrowers put at a disadvantage by a discontinuation of pandemic aid as they transitioned to a new program.
Fewer foreclosure auctions in 2025, unless economy slips
Completed foreclosure auctions should be 8% lower this year, but if home value and unemployment expectations change, all bets are off, Auction.com said.
L.A. fire issues loom as Southeast disaster damage ebbs
As forbearance starts to rise due to the fires, servicers that have just gotten a respite from hurricanes recoveries will have to gear up again.
CFPB says flood risk for mortgages underestimated
Financial profiles of borrowers in the coastal areas where insurance coverage is required vary significantly from at-risk homeowners inland, CFPB's analysis found.
Couple sues Newrez for OK’ing fraudulent HELOC wire transfer
Newrez's servicing arm approved an "obviously counterfeit" HELOC request from a bad actor totaling almost $500,000, a complaint claims.
FHFA shows extent of potential damage from Helene, Milton
Only 5% of homeowners in designated disaster-assistance areas were required to hold flood insurance, according to the Federal Housing Finance Agency's dashboard.
Prepare for a wild ride in 2025, Fannie Mae warns
Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.
New type of Ginnie Mae MBS proposed by mortgage bankers
The proposal is one of several that aims to address difficulties managing early buyouts from mortgage-backed securities pools.
Ginnie Mae finalizes reverse-mortgage buyout relief terms
Government securitization guarantor Ginnie Mae got the terms for the popular HMBS 2.0 program across the finish line ahead of a major change in federal leadership.
How Trump’s win impacts the 2025 RMBS outlook
Private-label securitization volume increased 75% this year versus 2023; conditions are right for that to continue, KBRA said.
How mortgage bankers performed financially in 3Q24
Lower rates during the period helped independent mortgage bankers make money on their originations but they posted losses on servicing.
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