FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
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Lending

2 charts show exactly how the mortgage pipeline is drying up

Rising rates, affordability gap squeeze originations

April 11, 2014

Mortgage originations are at their lowest level in 14 years and everyone is expecting that will only get worse as mortgage rates creep up, but a sure insight into what the spring and summer hold can be found in the first quarter reports today from Wells Fargo (WFC) and JPMorgan Chase (JPM).

Adding to the headwinds are the rising affordability gap, investor driven price increases, and the much tighter lending standards imposed on the industry.

These two graphics from the Wells Fargo and JPMorgan quarterly reports give an insight into what’s happening to the mortgage pipeline.

From Wells Fargo...

And from JPMorgan...

(hat tip ZeroHedge)

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