Interest rates are firming up and servicing sales are proliferating. Some dealmakers believe the second and third quarters will be barn-burners in terms of transactions.
The state, in a recent case, took the position that the owner of mortgage servicing rights, whether handling day-to-day obligations or relying on a subservicer, is required to be licensed under state law.
Looking at Freddie mortgages active as of January, researchers found that nearly 50% of Black homeowners would have saved at least $1,200 a year if they had refinanced while almost 20% would have saved at least double that amount.
Bank of America has committed funds to expand the Neighborhood Assistance Corporation of America’s low- to moderate-income homebuyers’ mortgage program.
Although seller buybacks from Fannie/Freddie MBS trusts rose sharply in the first quarter, they still account for a miniscule share of total GSE business.
One lender says that when refinances go bust, the industry can’t expect to waltz into the purchase market without there being casualties. Others are more sanguine.
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