Matt Monahan is expected to aid HL as it tries to take advantage of a red hot market for servicing sales. A former deal maker at Cohane Rafferty Securities, he will beef-up HLs mortgage sales force.
Despite the slowdown, an estimated 630,000 mortgages were guaranteed by VA in FY 2013 a record. Wells Fargo was the top VA funder with $14.82 billion. USAA was second.
IMA is out with a new $1.294 billion package of bulk Ginnie Mae MSRs, plus a monthly flow deal that could net a buyer an additional $900 million in Fannie Mae/Freddie Mac and Ginnie rights.
In an email exchange with IMFnews, RFC's Stein confirmed the sale, but declined to provide any details including the size of the MSRs or the purchase price.
Just when mortgage lenders thought it was safe to go back in the water, the CFPB revealed a big shark fin earlier this month by indicating it intends to develop additional reporting requirements under the Home Mortgage Disclosure Act. As Congress required in the Dodd-Frank Act, we are considering proposing rules that would make changes in how financial institutions report their mortgage activity, CFPB Director Richard Cordray said. One of the main purposes of this effort is to gain greater insight into issues about access to credit....