Finance

Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.

After being approved, retroactively denied and having a second application rejected, the firm is appealing the decision with federal regulators.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

Even though second-quarter originations were nearly double the same period in 2019, most were refinancings, which generate less revenue for title companies.

The GSEs began sharing their risk with the private market in new ways during conservatorship, and the Federal Housing Finance Agency’s proposed capital framework currently discourages the use of those strategies. Industry leaders voiced concerns in a FHFA listening session this week.

That, along with continued high refinance volume over the next three months, keeps originators' profit forecasts elevated, Fannie Mae said.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

Uncertainties in the job market drove mortgage credit availability down again, falling to the lowest point since March 2014, according to the Mortgage Bankers Association.

Some of the cures were the result of short-term remedies and could reverse as relief measures end.

Nearly half of the second-quarter volume came from its existing customers.

The pandemic drives home the point that without those funds being siphoned off, the recent fee hikes would not be necessary.

This proposed Libor replacement is an imaginary, backward-looking benchmark dreamed up by the economists at the Fed with no discernible market.

Following its deadline for written comments on the topic last month, the Federal Housing Finance Agency is scheduling events that will focus on two key themes emerging in responses.

Cannae and Senator said they are looking to stop CoreLogic from unilaterally cancelling a vote on changing the members of its board.

Arch's second CRT transaction this year to obtain indemnity reinsurance for mortgage-insurance premiums comes at a time it is also experiencing rising 60-plus-day delinquencies on its outstanding securitized pools.

The new reality for investors and originators accounts for forbearances and ability-to-repay.

As the end of the first six-month forbearance period arrives, the impact of the new cap is coming into focus.

Three non-QM deal issuers in August report varying levels of progress in moving borrowers from expired forbearance programs.

If it makes landfall as a Category 3 storm as was initially projected, damage from Hurricane Laura's surge could potentially devastate 432,810 residential properties in Texas and Louisiana, according to CoreLogic.