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Corresp., AE, LO Jobs; Digital, Warehouse, Processing, Pricing Products; Freddie and Fannie News


Corresp., AE, LO Jobs; Digital, Warehouse, Processing, Pricing Products; Freddie and Fannie News
Apr 29 2021, 8:30AM
A “google” is the large number of 1 with 100 zeroes after it. For lenders, a billion is a large number, and it would be unheard of for a lender to save $1 billion in costs. But that is what Google’s parent Alphabet Inc. is saving, per year in costs, because employees are working from home, not traveling, not paying for company promotions, travel, or entertainment. (Wing is also a company owned by Alphabet, and is a drone company delivering Girl Scout Cookies to an area in Virginia.) While lenders are focused on the cost to manufacture a loan, and CEOs are busy educating their staffs about existing costs and reducing them, other people are… trying to sell an island in Florida at $3 million per bedroom? Hope your plumbing doesn’t back up, or that you forgot to buy basil for that pasta sauce you’re making tonight. Don’t ....

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Nutter Bank Report: April 2021 | Nutter McClennen & Fish LLP


Headlines
CFPB Issues Interim Final Rule to Support CDC Moratorium on Evictions
FEMA Announces Changes to National Flood Insurance Program Pricing
Proposed Rule Would Establish Mandatory Terms for Tax Allocation Agreements
Other Developments: Paycheck Protection Program and Qualified Mortgages
1. CFPB Takes Steps to Avoid a Possible Wave of Home Mortgage Loan Foreclosures
The CFPB has issued guidance to mortgage servicers, including banks that service mortgage loans for third-party noteholders, that the CFPB expects servicers to dedicate sufficient resources and staff to reduce avoidable foreclosures in coming months. According to the guidance issued on April 1, Compliance Bulletin 2021-02, the CFPB believes consumer home mortgage borrowers needing loss mitigation assistance as the COVID-19 foreclosure moratoriums and forbearances end will face heightened risks of foreclosure. The CFPB’s guidance urges mortgage servicers to dedicate resources and staff to ....

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