One servicing advisor told IMFnews that the regulator now has the last word on all MSR transfer approvals. It began in December and has slowed the process a bit.
The hunger for GSE speculation is also causing some investors to buy Fannie/Freddie common which has been rising of late, but not by much. However, one GSE watcher believes that buying the common, "is a fools game."
In other words, the White House still wants to dismantle Fannie Mae and Freddie Mac and doesn't seem to care about all the money the two are returning to the government.
The change resulted in the cessation of dividend payments by the GSEs to Treasury, replacing it with a sweep of all almost net profits earned by Fannie and Freddie.
Moodys notes that all three have grown their production operations a positive but question whether over the long term whether they can compete with banks in the prime market.
With the mortgage industry having failed to delay implementation of the CFPBs ability-to-repay rule/qualified mortgage standard, industry representatives have shifted gears and are now pressing for numerous alterations to the bureaus controversial rule, which took effect Jan. 10. During a hearing last week before the House Subcommittee on Financial Institutions and Consumer Credit, the Mortgage Bankers Association had a number of recommendations, including abandoning the rebuttable presumption level of legal...