Consumer lending

But private mortgage insurers should not see significant impact on business if a 25 basis point reduction were to occur sometime after 2021, according to BTIG.

As an improving job market aided financial stability for borrowers, 2020 ended with drops in delinquent home loans, a CoreLogic report found.

The product being tested would join another on the market from Finicity, which is nearing the final stage of approval for use by Fannie Mae and Freddie Mac.

Rohit Chopra, President Biden’s nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.

Servicers could be dealing with approximately 1.8 million distressed properties when the latest forbearance extension ends in June, Black Knight said.

Acting Director Dave Uejio said Tuesday that the Consumer Financial Protection Bureau will push back implementation of the qualified mortgage rule and may amend or revoke other Trump-era rules that have yet to take effect.

Independent mortgage banker recovery drove the weekly decrease in forbearance share, according to the Mortgage Bankers Association.

Moratorium extensions helped drive a weekly increase in forbearances, according to Black Knight.

Origination volume hit a record high in 2020 as more borrowers tapped the equity in their homes and investors and second-home purchasers flocked to the market at levels unseen since before the Great Recession.

While the Mortgage Bankers Association hailed the move, some experts say it could negatively impact housing inventory.

The Federal Housing Finance Agency's recent allowance of a 3-month extension of CARES Act forbearances stands to upend the trend in plan exits.

Gains in consumer financial stability helped to decrease the rates of distressed home loans, but job creation is needed to make recovery sustainable, a CoreLogic report found.

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.

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

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 uptick marks only the third increase in consecutive weeks since reaching a peak in May, according to Black Knight.

Dave Uejio, acting director of the Consumer Financial Protection Bureau, promised to protect veterans from predatory loans and to crack down on companies that improperly garnish stimulus checks or mistreat struggling borrowers.

Black Knight’s product is designed to assist mortgage lenders in performing due diligence while also preventing heightened risk of foreclosure losses.

The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending.

The uptick follows the pandemic-era trend of midmonth increases in active plans, according to Black Knight.