Browsing: Mortgage

Mortgage

The American Bankers Association joined the Housing Policy Council and the Mortgage Bankers Association in a comment letter to the Department of Housing and Urban Development last week offering feedback on recent proposed changes to the servicing section of the Federal Housing Administration Single-Family Housing Policy Handbook.

Compliance and Risk

In a comment letter to the CFPB yesterday, the American Bankers Association offered support for recent proposals that would make changes to the Qualified Mortgage rule and ultimately allow the temporary “GSE patch”—which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae and Freddie Mac—to expire once the changes take effect.  

Economy

Around 6% of outstanding first-lien mortgages in June 2020 were reporting zero payment due based on credit bureau data, up from essentially none in February—thus indicating some kind of coronavirus-related payment relief, the Consumer Financial Protection Bureau said in a report today.

Mortgage

While noting that the Federal Housing Finance Agency’s re-proposed regulatory capital framework for Fannie Mae and Freddie Mac addresses concerns raised by ABA about the original 2018 proposal, the association today said the May re-proposal “raises concerns of its own, particularly with regard to the implications for the primary market and our members’ continued ability to sell loans to the GSEs in the revised GSE marketplace implied by the re-proposal.”

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