It’s not every day that a mortgage company files for bankruptcy protection, especially one owned by PIMCO. As for the future of that mortgage company, FGMC, a sale of its licenses is expected. After that, it’s game over.
With origination profits remaining depressed, most mortgage shops are tapping MSRs to bolster their quarterly results. As that old saying goes, “If you got ‘em, smoke ‘em.”
The U.S. Chamber of Commerce said the multi-pronged assault on CFPB Director Rohit Chopra is an attempt to make rulemaking more predictable and halt the surprising actions and aggressive rhetoric.