The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Politics & Money

Deconstructing Trump-era restrictions on Fannie & Freddie

Housing finance industry thrilled at Biden administration's suspension of covenants restricting the GSEs' ability to purchase loans

HW+ Sandra Thompson + Joe Biden
President Joe Biden and FHFA Acting Director Sandra Thompson

Less than a week before President Donald Trump was scheduled to leave office, Treasury Secretary Steve Mnuchin and Federal Housing Finance Agency Director Mark Calabria announced several controversial changes that infuriated the housing finance industry.

Mnuchin and Calabria amended the preferred stock purchase agreements that ultimately define Fannie Mae and Freddie Mac‘s mission. Though Mnuchin and Calabria allowed the government sponsored agencies to retain more capital, it came with strings. The January amendments restricted use of the cash window to a cap of $1.5 billion, introduced caps on the volume of mortgages Fannie and Freddie could purchase on investment properties and second homes to 7%, and, perhaps most controversially, capped the amount of “high-risk” loans that Fannie and Freddie could purchase to 6% of purchase mortgages and 3% for refinances.

The Mortgage Bankers Association wrote in a letter in March that several of the revised PSPA amendments could cause “unnecessary disruptions in the housing finance system,” and pleaded for more time in implementing some of the measures.

The Community Home Lenders Association appealed to the Biden administration’s interest in racial equity. The trade organization said in a letter that the restrictions “will have a disproportionate impact on minorities, low- and moderate-income, and other underserved borrowers – thus undermining the Administration’s focus on racial equity.”

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