Organization Root Tag

The nomination of Gary Gensler as chairman of Securities and Exchange Commission will now be voted on by the full Senate, but Rohit Chopra's nomination to head the Consumer Financial Protection Bureau remains held up in the Senate Banking Committee.

As more borrowers between 21 and 40 leveraged the historically low mortgage rates in January, the average age rose to a report high, according to ICE Mortgage Technology.

Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.

Rocket Pro TPO EVP Austin Niemiec calls this the start of the slippery slope, but UWM's Mat Ishbia responds he isn't being aggressive

The number of product offerings stayed at a level last seen in 2014 as slight gains in government and jumbo loans were offset by fewer conventional mortgages coming on the market.

Three announced deals from Woodward Capital, Redwood Trust and Wells Fargo are set to price before the end of the month; additional transactions are expected soon from Morgan Stanley and Goldman Sachs.

One government agency is committed to collecting new data about foreclosure sale outcomes during the current lull in activity. The industry hopes it won’t lead to developments that bog down work later.

And there are some brawls on the field affecting the direction of business for the rest of this year.

Some applaud the agency's recent delay of the mandatory compliance date for a new Qualified Mortgage standard. Others say it leads to more uncertainty for lenders, opens the door to additional changes and enables some companies to loosen their underwriting.

Federal Judge Kenneth Marra for a second time has granted the mortgage company summary judgment in the case brought by the bureau in 2017.

But the move could have legal repercussions from a competitive standpoint.

The abrupt move paves the way for the $6 billion cash deal with Stone Point and Insight Partners to move forward unimpeded.

The agency will allow an additional three months of forbearance for multifamily property loans backed by Fannie Mae and Freddie Mac, as long as tenant protections are offered.

Since CoStar made its revised offer in February, its stock price dropped nearly $177 per share.

With the latest growth, interest rates spiked 37 basis points since the calendar flipped to 2021 alongside rising Treasury bond yields.

The agency issued a proposal moving the compliance date for the Qualified Mortgage rule revamp to October 2022.

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student loan servicers that aren't helping troubled borrowers.

The rush to refinance led to more errors in January and the shift to more-risky purchase apps will add to lenders' fraud concerns going forward.

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.

The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.