She’s not a brain surgeon, but a Democratic legislator from the Rust Belt. Midweek, Joe Biden revealed Rep. Marcia Fudge as his pick for Housing secretary.
The CEOs of Freedom Mortgage and Caliber Home Loans said nonbanks, which face heavy criticism from regulators, don’t necessarily have a riskier business model than depositories.
Booming refi business is generating strong profits for nonbank lender/servicers, easing concerns about liquidity. Still, some nonbank servicers are calling on the Federal Home Loan Banks for financing lines.