Servicing

This regulatory development is both good news and bad news, depending upon where you happen to sit in the mortgage process.

The government-sponsored enterprise is following through on resolving some temporary policies put in place to address contingencies around the coronavirus while unwinding others.

The number of credit-sensitive borrowers who request alterations in their loan terms for income reduction could be a bellwether for loan performance as pandemic-related contingencies are rolled back.

While bullish on the future, CEO Anthony Hsieh noted that the company is “doing the necessary work to ensure our operations appropriately reflect our expectations for the changing market."

Three housing finance organizations asked for an interactive process similar to that used previously for originations and said they preferred less reliance on life-of-loan indemnification as a remedy.

While the significant drop in suspended payments overall from the pandemic’s peak suggests many have recovered from related hardships, the uptick points to some new distress.

The borrower sent bogus documents to a settlement company claiming a $111K lien was satisfied to complete a sale.

The rule addresses concerns related to what has previously been a lack of coverage for funds used to cover delinquent borrowers’ principal and interest payments, and clarifies guidance for specific situations.

Due to the rollback in stimulus and uncertainties related to other mortgage policy measures and rates, servicers are moving into uncharted waters, according to a Fannie Mae economist.

Eleven other defendants participated in the elaborate scam, which led to approval of unqualified buyers and numerous defaults of FHA-backed mortgages.