Flagstar Bancorp agreed Tuesday to buy the mortgage warehouse loan portfolio from Santander Bank. The deal will make Flagstar the fourth largest warehouse loan provider by commitments.
Over the past 12 months, Stearns Lending has jettisoned its delegated correspondent lending platform and recently sold most of its $23.2 billion servicing portfolio, raising new questions about the company’s direction.
In a white paper published on PIMCO’s website, four company executives said the conservatorship of the two government-sponsored enterprises has been “immensely successful” and should be a part of the reform solution.
A key GOP lawmaker is raising concerns about $353 million in funds slated to be paid by Fannie Mae and Freddie Mac toward affordable housing programs, while a liberal-leaning think tank tries to show that a proposed Senate reform plan would do more for affordable housing than critics say.
“The new year has all of us in the MSR market off to a running start as we see increases in mortgage rates and lower originations leading to greater demand, allowing for improved pricing of the MSR asset,” said Tom Piercy, managing director of Incenter Mortgage Advisors, Denver.
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