OCC report: Mortgage performance improves in first quarter
The OCC Mortgage Metrics Report showed that 96.9% of mortgages were current and performing at the end of the quarter, compared to 94.2% a year earlier.
Browsing: Mortgage
ABA joins the National Housing Conference
ABA has joined the National Housing Conference, a nonpartisan affordable housing advocacy nonprofit with a diverse membership base that includes consumer groups, national and local housing organizations, homebuilders, banks, community development groups, individual stakeholders and others.
Fannie, Freddie issue equitable housing finance plans
Fannie Mae and Freddie Mac today released multiyear plans detailing how they will address systemic barriers faced by Black and Latino homeowners and renters, as required by the Federal Housing Finance Agency.
CFPB report analyzes servicer data on borrowers exiting COVID forbearance
Just 0.2% of mortgage loans exited COVID-19 forbearance programs with a status of foreclosure, short sale or deed in lieu, according to new metrics published by the CFPB today based on information reported by 16 mortgage servicers that together represent approximately one-third of the residential mortgage market.
Financial trades urge FHFA to engage with industry on credit scoring proposal
As the Federal Housing Finance Agency considers how to transition to a new credit score model or models—as required by the 2018 S. 2155 law—ABA and several other financial trade groups urged FHFA to provide the industry with “additional data, a detailed transition plan that is subject to stakeholder input and ample time for any transition.”
CFPB blog post highlights resources for Spanish-language customers
In a new blog post, the CFPB highlighted its resources available to help financial institutions serve their Spanish-speaking customers.
FHFA to make Supplemental Consumer Information Form mandatory
Fannie Mae and Freddie Mac will now require lenders to use the Supplemental Consumer Information Form, which collects information about the borrower’s language preference, if any, as well as information on any homebuyer education or housing counseling the borrower received, the Federal Housing Finance Agency announced.
CFPB report flags auto servicing, consumer reporting issues
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
GSEs release ‘duty to serve’ plans
The Federal Housing Finance Agency yesterday outlined how Fannie Mae and Freddie Mac will work to improve the distribution and availability of safe and sound residential mortgage financing in underserved markets between 2022 and 2024.
Beige Book: Economic activity expands despite uncertainty
Economic activity expanded at a moderate pace between February and mid-April, though outlooks for future growth remained uncertain, given current geopolitical and inflation conditions, according to the Federal Reserve’s Beige Book release of the year.