Volume 2014 - Number 22
June 5, 2014
‘Profitability Covenants’ Could Cause Trouble For Some Correspondent Mortgage Sellers
Lenders that upstream product to the megabanks through correspondent loan sales are beginning to worry that because profits were so weak during the first quarter – or nonexistent – they might be cut off as sellers. Moreover, lenders fret that some of the largest players might shut the door on them for a different reason: they can’t deliver enough volume in an origination-challenged market. Speculation has focused...
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