Home Point and UWM earnings reports suggest the GSEs’ new limits on cash window purchases and caps on certain mortgage products took a bite out of the profits of some larger wholesalers.
The industry veteran joins a growing list of highly regarded members of GSE leadership who have recently decamped for greener pastures in private enterprise.
Although the FHLBanks market themselves as local lenders, this image doesn’t match their operations. Ten of the nation’s largest commercial banks account for about 30% of FHLBank advances.