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Are You Ready to Implement CFPB’s Final Rule?

Are you ready? There is no question that the COVID-19 pandemic has created uncertainty for all of us. Throughout the pandemic, servicers and homeowners have faced unprecedented and related challenges: can homeowners make their payments?  Can servicers manage increased loss mitigation and forbearance activities while staff members are remote? Will new rules be provided to […]

Oakleaf Appoints Susan Connally as Managing Director of Mortgage Servicing Solutions

The Oakleaf Group (Oakleaf) has announced its appointment of Susan Connally as Managing Director of Mortgage Servicing Solutions. Oakleaf is a premier provider of mortgage loan due diligence, data analytics, financial modeling, and advisory services for the mortgage and financial services industries. In her new role, Ms. Connally is responsible for the development and management of Oakleaf’s […]

CARES Act Forbearance Relief Expiration – What’s next?

As CARES Act mortgage forbearance periods near end, borrowers and mortgage services providers alike ask: What’s next? According to data from the Mortgage Bankers Association and Black Knight, the number of COVID-19 forbearance plans has declined at an increasing rate in recent weeks. Per Black Knights calculations,

U.S. RMBS Market Readies Itself for LIBOR Transition

The structured finance and residential mortgage backed securities market are currently preparing themselves for an event that is being described as the equivalent of Y2K for banking: December 31, 2021, when the London Interbank Offered Rate (“LIBOR”) will no longer be an available index. When asked about the potential disruption of the market on a […]

Congress, FHFA and the GSEs’ Efforts to Grapple with Covid-Related Housing Market Issues Highlighted at House Financial Services Committee Hearing

On Wednesday, September 16th, Federal Housing Finance Agency (FHFA) Director Mark Calabria testified before the House Financial Services Committee (HFSC) regarding his agency’s response to the COVID-19 pandemic. Of particular interest to committee members – as well as the mortgage industry at-large– was the recent decision to impose a controversial “adverse market” fee of on refinancings. The fee, 0.5% on refinanced mortgages, was announced on August 12th and had been initially scheduled to take effect on August 12th – only three weeks later. However, the rollout has since been delayed to December 1st after the move was met with significant backlash from the mortgage industry

Women in Housing & Finance Annual Symposium

On Tuesday, August 18th, The Oakleaf Group proudly served as a corporate sponsor for Women in Housing and Finance’s Annual Symposium. It was the 41st year that the event was hosted by WHF, the Washington D.C. area’s lead organization empowering women to learn from one another and other leaders in their industry, network and give […]

Oakleaf Expands Service Offerings as 2020 Mortgage Application Rate Remains High

As we know, the more liquid, dynamic mortgage financing market we are now in has placed additional pressure on lenders to process and underwrite loans. Below we review some of the most recent data demonstrating what is driving this demand. To assist mortgage finance clients with fulfilling their very full pipelines, we have expanded our […]

Unexpected Decreases in April 2020 Loan Delinquencies Among Some Non-Agency RMBS Servicers

According to the Mortgage Bankers Association’s latest Foreclosure and Call Volume Survey,[1] the total number of loans in forbearance increased to 8.46% from the prior week’s total of 8.36%.  A total of 4.2 million homeowners are now on forbearance plans[2]  These numbers represent the Government-Sponsored Enterprise (GSE) population which includes, Freddie, Fannie, Ginnie and FHA […]