Posted To: Pipeline Press

For some good news, any company that holds or buys servicing has seen their balance sheet improve with the rise in mortgage rates. For more good news, reverse mortgage lenders are licking their chops over the news that homeowners, aged 62 and older, saw their collective housing wealth increase by $234 billion to a record of $8.05 trillion , according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan. For not good news, the MBA reported that the GSEs’ .50 Adverse Market Refinance Fee is reportedly in place through at least December 1, 2021 , per Federal Housing Finance Agency (FHFA) officials. The fee is currently imposed on most Fannie Mae and Freddie Mac refinances, and FHFA plans to evaluate data in early October to determine if…(read more)

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Published On: April 6, 2021 / Categories: Mortgage News /