Servicing

Meanwhile at Essent, more loans exited the inventory in January than in December.

The housing market’s boom led to more borrowers building home wealth but the pandemic’s negative impact brings concern for underwater owners, according to Attom Data Solutions.

Acting Director Dave Uejio wrote in a blog post that the Consumer Financial Protection Bureau needs more time to consider rules that were finalized under the Trump administration but have not yet gone into effect.

The waivers to standard procedure will remain in place until December 2021.

However, the share of new impairments increased, likely as a result of the high concentration of these loans given to self-employed borrowers.

Now approved by Fannie Mae, the digital servicer aims to shake up the status quo by reducing costs caused by a “monopoly in the market.”

The coalition, led by New York’s Letitia James and Minnesota’s Keith Ellison, argues that PHH Mortgage’s payment processing fees violate some state laws.

The CARES Act-related forbearances could be “lulling us into a false sense of security” as 12-month expirations approach, according to Black Knight.

The Financial Stability Oversight Council could determine that a broad range of mortgage companies should be subject to “heightened prudential standards,” said Andrew Olmem, a partner at Mayer Brown and a former senior economic adviser to the White House.

The expected pricing range is between $19 and $21 per share if all 14.4 million shares to be offered are sold.