Customer satisfaction with mortgage servicers industrywide increased six points to 787 on a scale of 1,000 during the pandemic, according to the J.D. Power 2021 Primary Mortgage Servicer Satisfaction Study released today.
As advocated by American Bankers Association, the Conference of State Bank Supervisors today published model state regulatory prudential standards for nonbank mortgage servicers.
As more borrowers exit COVID-19 forbearance programs, the Biden administration today announced several new relief measures designed to help mortgage borrowers with loans through the Department of Housing and Urban Development, Department of Veterans Affairs and the Department of Agriculture avoid foreclosure.
Advances from Federal Home Loan Banks during 2020 decreased about 34% to $422.6 billion, the Federal Housing Finance Agency reported today.
In a letter to Sens. Kyrsten Sinema (D-Ariz.) and Rob Portman (R-Ohio) today, the American Bankers Association and a broad coalition of financial and housing trade groups urged them not to use Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets for government spending.
The COVID-19 pandemic created the deepest economic contraction in modern U.S. history and led to considerable uncertainty. However, it also teed up the conditions that created a red hot housing market across the country.
The Federal Housing Finance Agency today announced that it will eliminate a widely panned “adverse market refinance fee” of 50 basis points for no-cash-out and cash-out refinance mortgages for loan deliveries effective Aug. 1.
Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.
The Federal Housing Finance Agency issued a policy statement today stating its position on fair lending laws with respect to the entities it regulates: Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
Following a final rule issued by the Consumer Financial Protection yesterday establishing a temporary COVID-19 emergency pre-foreclosure period under Regulation X that prohibits servicers from making the first notice or filing required to initiate foreclosure until Dec. 31, the Federal Housing Finance Agency today said that Fannie Mae and Freddie Mac servicers may not make a first notice or filing for foreclosure that would be prohibited by the CFPB rule before it takes effect.