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What We’re Hearing

January 10, 2013

Inside Take:

As we noted earlier in the week, Bank of America will sell plenty more in the way of residential mortgage servicing rights this year. But how much more? According to the new issue of Inside Mortgage Finance, how does upwards of $400 billion sound? Will PennyMac be a buyer this time around?

We know that BofA is a repo lender to PennyMac and that over the past year the publicly traded REIT has hired many former bank employees, including correspondent and warehouse officials. Stay tuned and see the story on the IMF website.

 

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What will Fannie Mae’s and Freddie Mac’s new 97 LTV programs mean for your business?

It will give our business a big boost as there is a lot of pent up demand for the product.
It will have only a minor impact on our overall business as we already are doing high LTV business through FHA and some of our high LTV FHA business is likely to shift to Fannie and Freddie.
It won’t have any impact on our business as we plan to steer clear of all high LTV business – particularly in the GSE market.

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