Mortgages

The GSE forecasts $4 trillion in production this year because refinance activity is stronger than expected.

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.

The return of more normalized numbers for two key players in the home loan market could be the lead-up to a wave that’s been anticipated since the coronavirus arrived.

Those handling loan modifications anticipate a growing secondary market for loans in forbearance as they budget cautiously for additional alterations of regulations down the road.

Competition amongst those shopping for homes fell for the second straight month as surging prices pushed consumers to the sidelines and inventory saw modest gains, according to Redfin.

Boosts in purchases and cash-out refinances drove the summer turnaround, according to Black Knight.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies that her predecessor, Mark Calabria, put in place over the past year.

The change makes it easier for borrowers exiting forbearance to get access to home retention options that might otherwise be out of reach due to skyrocketing home prices.

Fewer borrowers are suspending payments for pandemic hardships but some who got back on track are having trouble again, and deadlines could spur a final round of new requests.

The Consumer Financial Protection Bureau issued a temporary final rule that allows mortgage servicers to initiate foreclosures on abandoned properties and certain delinquent borrowers, but it also outlined additional measures that shield distressed homeowners.

The lack of homes for sale is supporting the record values, unlike what happened in the mid-2000s, analysts say.

The Supreme Court decision cleared the way for further revisions to the agreements between the Federal Housing Finance Agency and the Treasury, which could include dismissing the January changes.

The Community Home Lenders Association has called for suspension of federal limits on the loan volumes that Fannie Mae and Freddie Mac can purchase from individual lenders. The demand came on the same day that the Biden administration fired FHFA Director Mark Calabria and started the process of nominating his successor.

Growing CRE mortgage volumes raised the bar for the coming year despite lingering concerns, according to the CRE Finance Council.

Increases in refinances, both in applications and average size, help lead overall numbers higher

So far companies plan on using roughly the same number of employees as they shift from handling payment suspensions to assessing borrowers who have seen long-term declines in their incomes.

Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers

The data also showed that more purchase loans were made to low- and moderate-income borrowers last year, but fewer refinances.