The Consumer Financial Protection Bureau (CFPB) has been on a two-month enforcement tear aimed at mortgage lenders employing deceptive practices in the VA mortgage lending area. The Bureau has issued consent orders against six companies since late July in what it terms a "sweep" i n response to concerns about potentially unlawful advertising in the market that the VA identified. CFPB found the companies had sent direct-mail advertisements primarily to military servicemembers and veterans that contained false, misleading, and inaccurate statements or lacked required disclosures. The complaints set forth similar instances of violations of the Consumer Financial Protection Act's (CFPA) prohibition against deceptive acts and practices, the Mortgage Acts and Practices - Advertising Rule (MAP Rule

September 4, 2020 Download our Mobile App: Download our Mobile App: Housing News CFPB Goes After 6 VA Lenders for Shady Practices The Consumer Financial Protection Bureau (CFPB) has been on a two-month enforcement tear aimed at mortgage lenders employing deceptive practices in the VA mortgage lending area. The Bureau has issued consent orders against six companies since late Ju... (read more) Mortgage Rate Watch Mortgage Rates Balking at New Record Lows Mortgage rates have improved nicely over the past week. While a lot of this improvement is due to the delay of the new refinance fee announced earlier this month, the broader bond market has helped. For instance, 10yr Treasury yields--often viewed as... (read more) Rob Chrisman LO, CD Jobs; Database, HELOC, Digital Tools; Vendor and Lender Products As we head toward the Autumnal Equinox on 9/22, places like Seattle and Minneapolis are losing four minutes of sunlight a day. Something else that is losing ground almost as quickly are monthly rents in expensive, crowded cities like San Francisco an... (read more) Housing News Forbearances Decrease by 4% The number of homeowners with mortgages in COVID-19 related forbearance plans dropped during the week ended September 1 after several weeks when there was little change. Black Knight said its weekly survey found 147,000 fewer borrowers in plans than ... (read more) MBS Commentary MBS Live Recap: Today’s Weakness Made Sense? Great… So Now What? Perfect Storm in Bonds Pushing Yields Quickly Higher Between the 5-day rally running the risk of getting tired, the technical resistance at .63%, the artificial extension of the rally thanks to huge stock sel... (read more) Housing News Mortgage Applications Decline for Third Week Mortgage applications, both for home purchase and refinancing, declined for the third straight time during the week ended August 28. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application volume, lost 2.... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.89% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.89% +0.02 0.00 15 Yr. Fixed 6.14% +0.02 0.00 30 Yr. FHA 6.38% 0.00 0.00 30 Yr. Jumbo 6.95% -0.03 0.00 7/6 SOFR ARM 6.24% -0.02 0.00 30 Yr. VA 6.40% 0.00 0.00 Updates Daily - Last Update: 6/5 15 Yr. Fixed Rate 6.14% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% -0.04 0.00 15 Yr. Fixed 5.99% -0.04 0.00 Updates Weekly - Last Update: 6/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.92% +0.06 0.69 15 Yr. Fixed 6.21% +0.09 0.72 30 Yr. Jumbo 6.94% +0.09 0.72 Updates Weekly - Last Update: 5/21 MBS / Treasuries UMBS 30YR 5.5 99.01 +0.03 Price / Yield Change MBS UMBS 5.5 99.01 +0.03 UMBS 6.0 101.03 +0.03 GNMA 5.5 99.30 +0.02 GNMA 6.0 101.00 +0.03 Pricing as of: 6/5 9:50PM EST 10 Year US Treasury 4.3901 -0.0044 Price / Yield Change US Treasury 2 YR Treasury 3.914 -0.006 5 YR Treasury 3.985 -0.013 7 YR Treasury 4.202 +0.075 10 YR Treasury 4.389 -0.005 30 YR Treasury 4.880 +0.008 Pricing as of: 6/5 9:50PM EST Latest Video Here's where mortgage bailouts stand amid the pandemic Unemployment rate falls to 8.4% as U.S. economy adds 1.37 million jobs in A... Treasury yields slightly higher after August jobs report August employment report expected to show jobs recovery is slowing Around the Web NPR Fed's Jerome Powell: Jobless Rate Better Than Expected; Recovery To Take A Long Time CNBC U.S. is still in a 'very significant recession' despite job gains, Fed's Rosengren says Calculated Risk Blog Q3 GDP Forecasts CNBC Most people likely won't get a coronavirus vaccine until the middle of 2021 NAHB Eye on Housing Examining Rental Housing in the US Calculated Risk Blog Comments on August Employment Report CNBC U.S. created 1.37 million jobs in August, vs 1.32 million expected; unemployment rate falls to 8.4% CNBC Treasury yields higher amid stock market rout Calculated Risk Blog Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Decreased CNBC El-Erian: Economic recovery held back because people don't trust each other over coronavirus Calculated Risk Blog Hotels: Occupancy Rate Declined 27.7% Year-over-year Calculated Risk Blog August Employment Preview Calculated Risk Blog Comments on Weekly Unemployment Claims

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