Daily Newsletter: Mortgage Application Volume Nears 18-Month Low; Rates Trickle Lower Again

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30 Year Fixed 3.17% -0.02 15 Year Fixed 2.58% -0.04 10YR Treasury 1.47% -0.0068 View Today’s Rates

Wednesday June 30, 2021 MND NewsWire – 9:34AM Mortgage Application Volume Nears 18-Month Low Mortgage applications fell sharply last week, affecting both refinance and purchase components of the Mortgage Banker Association’s (MBA’s) Market Composite Index. The index, a measure … Mortgage Rate Watch – 4:29PM Mortgage Rates Trickle Lower Yet Again Mortgage rates fell again today–now officially below the lowest levels in the past 2 weeks. In order to accomplish that, rates had to fully erase the damage done exactly 2 weeks ago … MBS Commentary – 4:11PM MBS RECAP: Failed Breakout Puts More Emphasis on End-of-Week Events Failed Breakout Puts More Emphasis on End-of-Week Events Notice that the headline didn’t invoke “the jobs report” for the 17th time this week. The fact that we’ve been this focused … Non-QM Mgt., CD, AE, MLO Jobs; Jumbo, Verification, Subservicer Products; Non-Agency News MBS Day Ahead: Is It Friday Yet? Latest Video D.R. Horton named top pick at Goldman Sachs Weekly mortgage demand falls nearly 7% as home price growth hits record high Pending home sales jump 8% month-to-month, the highest May reading since 2005 More News from ‘Around the Web’ Reuters – 4:27PM S&P 500 closes at record high as Wall St notches fifth straight quarterly gain Calculated Risk Blog – 4:15PM Las Vegas Visitor Authority for May: No Convention Attendance, Visitor Traffic Down 22% Compared to 2019 Calculated Risk Blog – 12:32PM Update: Framing Lumber Prices Down Sharply from Recent Peak, Up Solidly Year-over-year CNBC – 12:12PM American Express is sending customers to fintech partners for mortgages CNBC – 12:11PM May home sales rebound to highest level since 2005, shocking even the Realtors CNBC – 12:10PM As housing boom begins to fizzle, weekly mortgage demand falls nearly 7% CNBC – 12:10PM Coldwell Banker CEO says investors snatching up homes is not a driving force in hot housing market CNBC – 8:23AM Private payrolls rise 692,000 in June, easily topping expectations CNBC – 8:14AM U.S. Treasury yields fall ahead of private payrolls report Reuters – 8:05AM Futures tick lower ahead of private jobs data Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.17% -0.02 15 Yr FRM 2.58% -0.04 FHA 30 Year Fixed 2.70% -0.05 Jumbo 30 Year Fixed 3.17% -0.01 5/1 Yr ARM 2.28% +0.00 Average Mortgage Rates MBA ** 30 Yr. Fixed 3.17% 0.30 -0.03 15 Yr. Fixed 2.55% 0.30 -0.10 30 Yr. Jumbo 3.28% 0.30 -0.06 30 Yr. FHA 3.12% 0.24 -0.03 5/1 ARM 2.59% 0.47 -0.08 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.02% 0.70 +0.09 15 Yr. Fixed 2.34% 0.70 +0.10 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.53% 0.30 +0.01 Secondary Markets MBS Price Change 30YR UMBS 2.0 100.97 -0.03 30YR UMBS 2.5 103.39 -0.03 30YR GNMA 2.0 101.81 -0.03 30YR GNMA 2.5 103.14 0.00 15YR UMBS 2.0 103.09 -0.03 15YR UMBS 2.5 104.27 +0.06 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.2525% +0.0001 5 YR 0.8910% +0.0000 10 YR 1.4680% -0.0068 30 YR 2.0871% -0.0007 Prices as of: 6/30/2021 4:44PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2021 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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MBS RECAP: Failed Breakout Puts More Emphasis on End-of-Week Events

Before you read it here, it was on MBS Live.

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Posted to: MBS Commentary
Wednesday, June 30, 2021 4:11 PM

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Failed Breakout Puts More Emphasis on End-of-Week Events

Notice that the headline didn’t invoke “the jobs report” for the 17th time this week. The fact that we’ve been this focused for this long is either a sign that trading is panning out as expected (i.e. sideways between jobs reports or Fed meetings and trending immediately thereafter) or misplaced analysis in a summertime market who’s default state is “sideways until proven otherwise.” Either way, 10yr…

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More from MND:

• Pipeline Press: Non-QM Mgt., CD, AE, MLO Jobs; Jumbo, Verification, Subservicer Products; Non-Agency News
• MBS Commentary: MBS Day Ahead: Is It Friday Yet?
• MND NewsWire: Mortgage Application Volume Nears 18-Month Low
• MBS Commentary: MBS RECAP: Strong Data, But Even Stronger Sideways Grind
• Mortgage Rate Watch: Mortgage Rates Inch Toward 2-Week Lows

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Daily Rate Update: Mortgage Rates Trickle Lower Yet Again

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30 Year Fixed 3.17% -0.02 15 Year Fixed 2.58% -0.04 10YR Treasury 1.47% -0.0068 View Today’s Rates

Mortgage Rates Trickle Lower Yet Again June 30, 2021 Mortgage rates fell again today–now officially below the lowest levels in the past 2 weeks. In order to accomplish that, rates had to fully erase the damage done exactly 2 weeks ago after the Fed announcement caused the biggest single-day spike in months. That recovery was mostly (but not quite) accomplished yesterday. Today was simply a matter of crossing the finish line with modest improvements in underlying bond markets. Notably, bonds are losing some ground this afternoon. It’s too late for the average lender to make any changes to today’s mortgage rates, but if these same levels are intact tomorrow morning, rates will likely be slightly higher. As has been and continues to be the case, the week’s biggest potential volatility is reserved for the reaction to Friday morning’s jobs report. The average lender is offering conventional 30yr fixed purchase rates around 3.00% today with refis being roughly an eighth of a point (0.125%) higher. This assumes a top tier scenario and “no-cash-out” on the refi side. 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Mortgage Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.17% -0.02 15 Yr FRM 2.58% -0.04 FHA 30 Year Fixed 2.70% -0.05 Jumbo 30 Year Fixed 3.17% -0.01 5/1 Yr ARM 2.28% +0.00 Average Mortgage Rates MBA ** 30 Yr. Fixed 3.17% 0.30 -0.03 15 Yr. Fixed 2.55% 0.30 -0.10 30 Yr. Jumbo 3.28% 0.30 -0.06 30 Yr. FHA 3.12% 0.24 -0.03 5/1 ARM 2.59% 0.47 -0.08 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.02% 0.70 +0.09 15 Yr. Fixed 2.34% 0.70 +0.10 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.53% 0.30 +0.01 Secondary Markets MBS Price Change 30YR UMBS 2.0 100.97 -0.03 30YR UMBS 2.5 103.41 -0.02 30YR GNMA 2.0 101.80 -0.05 30YR GNMA 2.5 103.14 0.00 15YR UMBS 2.0 103.09 -0.03 15YR UMBS 2.5 104.27 +0.06 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.2506% -0.0018 5 YR 0.8910% +0.0000 10 YR 1.4680% -0.0068 30 YR 2.0871% -0.0007 Prices as of: 6/30/2021 4:42PM EST

About This Report Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.

© 2021 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Non-QM Mgt., CD, AE, MLO Jobs; Jumbo, Verification, Subservicer Products; Non-Agency News

Posted to: Pipeline Press
Wednesday, June 30, 2021 8:21 AM

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“Adam and Eve were the first people not to read the Apple terms and conditions.” Who has actually read their phone’s manual? Technology marches on, with or without us. Two major public home builders, Taylor Morrison and PulteGroup, recently piloted programs where buyers can choose, design, and finance a new home virtually and add it to their shopping cart. A Realtor pal in Marin sent a note on days on the market of existing homes. “In May 2020, the average was 47 versus May 2021’s 26. It is difficult to see how it could get any lower than that. MLS stops counting days on market once a home goes pending, and most homes are still being financed, and loans take a while to get approval, usually 20 days or so. So if the home is on market 7 days before offers are taken, that would be 27 days total. Cash of course closes faster. The biggest slowdown in the market right now is getting appraisals done in a timely fashion. Appraisers are all very busy, and trying to get one done now is usually a very difficult and time-consuming process. It used to be that 15 days was plenty of time for an appraisal, but now it is strictly on a case-by-case basis.” And lender’s technology is a big deal: available here, is sponsored by Origence, and features an interview with Michael Farris, their VP of strategic solutions. We discussed recent mortgage tech advances and how they can solve real-world challenges that lenders are facing.

(READ THE FULL POST)

More from MND:

• MBS Commentary: MBS Day Ahead: Is It Friday Yet?
• MND NewsWire: Mortgage Application Volume Nears 18-Month Low
• MBS Commentary: MBS RECAP: Strong Data, But Even Stronger Sideways Grind
• Mortgage Rate Watch: Mortgage Rates Inch Toward 2-Week Lows
• MND NewsWire: CFPB Updates Servicing Rules to Ease Transition from Forbearance

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MBS Day Ahead: Is It Friday Yet?

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Posted to: MBS Commentary
Wednesday, June 30, 2021 9:41 AM

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Some people may pine for Fridays due to the end of a work week, or perhaps as the start of an extended weekend (as is the case with the impending example due to Independence Day). But we here in the bond market are anxious for this particular Friday as it brings another installment of the jobs report–which has been one of the few events that actually contributes to shaping new ranges as opposed to perpetuating them. So far this morning, the existing range (which bottoms out at 1.44% in 10yr yields) remains a tough nut to crack.

As always, there are no guarantees. The…

(READ THE FULL POST)

More from MND:

• MND NewsWire: Mortgage Application Volume Nears 18-Month Low
• MBS Commentary: MBS RECAP: Strong Data, But Even Stronger Sideways Grind
• Mortgage Rate Watch: Mortgage Rates Inch Toward 2-Week Lows
• MND NewsWire: CFPB Updates Servicing Rules to Ease Transition from Forbearance
• MND NewsWire: Pandemic Continuing to Fuel Home Price Gains

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Mortgage Application Volume Nears 18-Month Low

Posted to: MND NewsWire
Wednesday, June 30, 2021 7:13 AM

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Mortgage applications fell sharply last week, affecting both refinance and purchase components of the Mortgage Banker Association’s (MBA’s) Market Composite Index. The index, a measure of mortgage loan application volume, was down 6.9 percent on a seasonally adjusted basis during the week ended June 25, and was 7 percent lower before adjustment, bringing it to the lowest level in almost a year and a half. The Refinance Index decreased 8 percent from the previous week and was 15 percent lower than the same week one year ago. The refinance share of mortgage activity declined to 61.9 percent of total applications from 62.5 percent the previous week. The seasonally adjusted Purchase Index decreased 5 percent and the unadjusted version was down 6 percent compared with the previous week and was 17 percent lower than the same week one year ago.

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More from MND:

• MBS Commentary: MBS RECAP: Strong Data, But Even Stronger Sideways Grind
• Mortgage Rate Watch: Mortgage Rates Inch Toward 2-Week Lows
• MND NewsWire: CFPB Updates Servicing Rules to Ease Transition from Forbearance
• MND NewsWire: Pandemic Continuing to Fuel Home Price Gains
• MND NewsWire: No, FHA Won’t Be Offering 40 Year Loans

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MBS RECAP: Strong Data, But Even Stronger Sideways Grind

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Posted to: MBS Commentary
Tuesday, June 29, 2021 4:10 PM

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Strong Data, But Even Stronger Sideways Grind

Bonds started the day in slightly weaker territory but moved very quickly to get back to unchanged levels. After that? Nothing! 10yr yields and MBS have both coasted sideways in ranges so narrow as to make observation and analysis obsolete. Even stocks were unable to escape the flatness. True, there’s more time left to trade, but with 20 minutes to go, the S&P is almost perfectly unchanged vs …

(READ THE FULL POST)

More from MND:

• Mortgage Rate Watch: Mortgage Rates Inch Toward 2-Week Lows
• MND NewsWire: CFPB Updates Servicing Rules to Ease Transition from Forbearance
• MND NewsWire: Pandemic Continuing to Fuel Home Price Gains
• MND NewsWire: No, FHA Won’t Be Offering 40 Year Loans
• Pipeline Press: Community Lending, 1099, Compensation, NOO, Non-QM products; Government Loan Program Changes

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Daily Newsletter: No, FHA Won’t Be Offering 40 Year Loans; Staggering Home Prices; Rates Inch Lower

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30 Year Fixed 3.19% -0.01 15 Year Fixed 2.62% +0.00 10YR Treasury 1.47% -0.0068 View Today’s Rates

Tuesday June 29, 2021 MND NewsWire – 10:57AM No, FHA Won’t Be Offering 40 Year Loans Ginnie Mae sent out a press release last week could create some confusion for those readers who only skimmed the lede. The opening paragraph states that the agency is creating a new … Mortgage Rate Watch – 3:12PM Mortgage Rates Inch Toward 2-Week Lows Mortgage rates are primarily a function of trading levels in the bond market and bonds have enjoyed (or suffered) an interesting mix of volatility and stability in June. US Treasury … MND NewsWire – 1:14PM Pandemic Continuing to Fuel Home Price Gains When the S&P CoreLogic Case-Shiller and Federal Housing Finance Agency’s price reports for March were released we wrote that the superlatives were getting tired. The April report … MND NewsWire – 1:17PM CFPB Updates Servicing Rules to Ease Transition from Forbearance The government stakeholders involved in the various pandemic related forbearance programs appear to be directing their full attention to their upcoming expirations. Ginnie Mae earlier … Community Lending, 1099, Compensation, NOO, Non-QM products; Government Loan Program Changes MBS Day Ahead: Bonds Take a Few Steps Back Ahead of Another Light Event Calendar Latest Video June consumer confidence index at 127.3 versus estimates of 118.7 Coldwell Banker CEO on surging home prices: ‘Fundamentals are strong’ Fed’s policy will remain ‘very easy’ into 2023, says Morgan Stanley’s Caron More News from ‘Around the Web’ CFPB – 3:46PM CFPB Takes Action Against Company and its Owners and Executives for Deceptive Debt-Relief and Credit-Repair Services CNBC – 12:11PM ‘Great Resignation’ gains steam as return-to-work plans take effect CNBC – 9:45AM Home prices surged in April at a ‘truly extraordinary’ rate, S&P Case-Shiller says CNBC – 8:05AM Treasury yields climb with focus on employment data CNBC – 8:05AM ECB member hints at scaling back stimulus, but not everyone’s convinced Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.19% -0.01 15 Yr FRM 2.62% +0.00 FHA 30 Year Fixed 2.75% +0.00 Jumbo 30 Year Fixed 3.18% +0.01 5/1 Yr ARM 2.28% +0.00 Average Mortgage Rates MBA ** 30 Yr. Fixed 3.17% 0.30 -0.03 15 Yr. Fixed 2.55% 0.30 -0.10 30 Yr. Jumbo 3.28% 0.30 -0.06 30 Yr. FHA 3.12% 0.24 -0.03 5/1 ARM 2.59% 0.47 -0.08 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.02% 0.70 +0.09 15 Yr. Fixed 2.34% 0.70 +0.10 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.53% 0.30 +0.01 Secondary Markets MBS Price Change 30YR UMBS 2.0 101.02 +0.06 30YR UMBS 2.5 103.42 +0.06 30YR GNMA 2.0 101.83 +0.05 30YR GNMA 2.5 103.13 +0.05 15YR UMBS 2.0 103.14 +0.09 15YR UMBS 2.5 104.20 +0.05 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.2524% -0.0039 5 YR 0.8910% -0.0080 10 YR 1.4748% -0.0068 30 YR 2.0891% -0.0116 Prices as of: 6/29/2021 4:10PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2021 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Rate Update: Mortgage Rates Inch Toward 2-Week Lows

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30 Year Fixed 3.19% -0.01 15 Year Fixed 2.62% +0.00 10YR Treasury 1.48% -0.0051 View Today’s Rates

Mortgage Rates Inch Toward 2-Week Lows June 29, 2021 Mortgage rates are primarily a function of trading levels in the bond market and bonds have enjoyed (or suffered) an interesting mix of volatility and stability in June. US Treasury yields (which share a strong correlation with ,mortgage rates) moved sharply lower at the beginning of the month. Mortgages didn’t move quite as much, but nonetheless made it to their best levels since late February. After that, the Fed announcement on June 16th was the next major source of volatility. It pushed rates quickly higher and they’ve been gradually recovering since then. Today adds another almost imperceptible brick to that wall, but it’s enough to nudge the average 30yr fixed rate to its lowest level since the morning before the Fed announcement. Some see those levels as a sign that it’s time to be more defensive when it comes to rate expectations going forward, and that’s not a bad way to view things considering the broader bond market has struggled to improve much beyond current levels. Others see the lack of improvement in concert with a similar lack of deterioration and conclude that the market is biding its time before making its next big decision. To whatever extent the market is even willing to make big bets during what is typically a slower time of year for trading, this Friday’s jobs report stands the best chance to inform such decisions. In that sense, the lower volatility of the past few trading sessions could simply be a calm before the storm. 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Mortgage Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.19% -0.01 15 Yr FRM 2.62% +0.00 FHA 30 Year Fixed 2.75% +0.00 Jumbo 30 Year Fixed 3.18% +0.01 5/1 Yr ARM 2.28% +0.00 Average Mortgage Rates MBA ** 30 Yr. Fixed 3.17% 0.30 -0.03 15 Yr. Fixed 2.55% 0.30 -0.10 30 Yr. Jumbo 3.28% 0.30 -0.06 30 Yr. FHA 3.12% 0.24 -0.03 5/1 ARM 2.59% 0.47 -0.08 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.02% 0.70 +0.09 15 Yr. Fixed 2.34% 0.70 +0.10 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.53% 0.30 +0.01 Secondary Markets MBS Price Change 30YR UMBS 2.0 101.00 +0.05 30YR UMBS 2.5 103.42 +0.06 30YR GNMA 2.0 101.83 +0.05 30YR GNMA 2.5 103.13 +0.05 15YR UMBS 2.0 103.14 +0.09 15YR UMBS 2.5 104.20 +0.05 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 0.2524% -0.0039 5 YR 0.8926% -0.0064 10 YR 1.4765% -0.0051 30 YR 2.0905% -0.0102 Prices as of: 6/29/2021 4:10PM EST

About This Report Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.

© 2021 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

CFPB Updates Servicing Rules to Ease Transition from Forbearance

Posted to: MND NewsWire
Tuesday, June 29, 2021 12:04 PM

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The government stakeholders involved in the various pandemic related forbearance programs appear to be directing their full attention to their upcoming expirations. Ginnie Mae earlier announced a new class of mortgage-based securities (MBS) to absorb loans that have been modified to return them to performing status. Now the Consumer Financial Protection Bureau (CFPB) has announced amendments to the federal mortgage servicing regulations to “help protect mortgage borrowers from unwelcome surprises as they exit forbearance.” CFPB said the temporary special safeguards will help ensure borrowers sufficient time to explore their options before facing foreclosure. These options include loan modifications and selling their homes. The rules cover loans on principal residences, generally exclude small servicers, and will take effect on August 31, 2021.

(READ THE FULL POST)

More from MND:

• MND NewsWire: Pandemic Continuing to Fuel Home Price Gains
• MND NewsWire: No, FHA Won’t Be Offering 40 Year Loans
• Pipeline Press: Community Lending, 1099, Compensation, NOO, Non-QM products; Government Loan Program Changes
• MBS Commentary: MBS Day Ahead: Bonds Take a Few Steps Back Ahead of Another Light Event Calendar
• MBS Commentary: MBS RECAP: Monday Giveth

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