It had to happen eventually: The sale of bulk MSR portfolios has lessened noticeably in the fourth quarter, with some buyers actively low-balling their bids. And if rates fall to 5.5% next year, as some predict, the days of asset markups will be in the rearview.
Some of the nation's largest direct-to-consumer lenders are taking a peek at FoA’s retail network to see if they can pick up some ancillary locations. FoA is in the midst of a massive and costly restructuring brought on by the production downturn.
After years of court maneuvers, the most prominent of the Fannie Mae/Freddie Mac shareholder lawsuits finally went to trial. Now it’s in the hands of a jury.
Attorneys for First Guaranty Mortgage Corp. and its creditors met in a U.S. Bankruptcy Court in Delaware this week. The first step in the resolution: selling some of the company’s MSRs.
Rep. Patrick McHenry (R-NC), who is likely to chair the House Financial Services Committee if Republicans win control of the House, is a frequent critic of the Consumer Financial Protection Bureau.
Not a total surprise, but the central bank hiked short-term rates by 75 basis points this week. Mortgage rates hardly budged but residential finance professionals are worried about the quarters ahead. Meanwhile, more lenders are heading for the exits.
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