The Consumer Financial Protection Bureau (CFPB) recently announced an update of its “Methodology for Determining Average Prime Offer Rates,” (APOR) with respect to federal mortgage rules. APORs are annual percentage rates derived from average interest...
Read MoreThe Federal Housing Finance Agency (FHFA) extended the comment period on Fannie Mae and Freddie Mac’s social bond index proposal to May 17, 2023, from the initial date of April 17, 2023. The Request for...
Read MoreAs a part of its supervision of fair lending practices, the Federal Deposit Insurance Corporation (FDIC) will expand its examination process of property appraisals, to detect and root out racial bias in appraisals, following on...
Read MoreMortgage lenders lost an average of $301 on loans originated in 2022, the first year reporting losses since tracking began in 2008, after a record high in 2021 when earnings averaged $2,339 per loan. Average...
Read MoreCommercial real-estate (CRE) has been suffering from the increase in remote work, rising interest rates and subsequently higher mortgage costs to landlords. Occupancy rates in class-B/C commercial office spaces have been dropping since Q4 2021....
Read MoreThe Wall Street Journal (WSJ) reported that investors are anxiously awaiting the sale of Silicon Valley Bank’s (SVB) roughly $78 billion agency RMBS. Although the “market is deep enough to absorb even large liquidations,” increased supply in...
Read MoreAccording to a report from data analytics firm Black Knight, rate lock count for residential mortgages fell in February to a level 42% below this time last year and 35% below pre-pandemic 2020 as borrowers...
Read MoreThe FHFA announced a delay in the implementation of a new up-front fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income ratios. Citing concerns that the combined effect of this fee and other...
Read MoreOn March 6, FDIC Chairman Martin Gruenberg spoke at the Institute of International Bankers where he discussed the risks facing banks brought on by macroeconomic uncertainty. In discussing the trends that will likely affect banks’...
Read MoreCommercial Property Assessed Clean Energy (C-PACE) legislation, a financing program intended to put carbon reduction projects within reach of developers, has been enacted in 38 states, setting the stage for increases in originations and securitization...
Read MoreGinnie Mae has announced All-Participants Memorandum (APM) to reduce the minimum pool size for Home Equity Conversion MBS, commonly known as reverse mortgages. By reducing the minimum size from $1M to $250K, Ginnie Mae hopes to decrease...
Read MoreThe Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on social bond policies for Fannie Mae and Freddie Mac (the GSEs). The RFI is intended to identify risks and opportunities for the GSEs to...
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