MBS holdings at Fannie and Freddie are a shadow of what they used to be. Then again, being in a conservatorship that just celebrated its quinceanera will do that to you.
The founder of the shuttered non-QM lender Sprout Mortgage has shifted to personally brokering loans. Also, a class-action lawsuit against Sprout was complicated by a bankruptcy filing.
The business of subservicing loans for others continued apace in the second quarter with modest growth. The good news: Delinquencies are low but some lenders that source the loans are going bust. (Includes data chart.)
Consumer advocates, trade groups and federal agencies are urging banks to help close the racial wealth and homeownership gaps by committing to launch more special purpose credit programs.
Profit margins are tight in wholesale but that isn’t stopping EPM owner Eddy Perez from converting his national shop into a table-funding-only producer. Will it work? We’re about to find out.