GOP staffers on the Senate Banking Committee said remarks Tuesday by Sen. Pat Toomey, R-PA, were a sign he was willing to compromise on an explicit government guarantee of agency MBS.
FoAM sees a growing potential in HECM securitizations and is expanding its menu in the space. Meanwhile, its SPAC/IPO has been green-lighted for early April.
The Federal Reserve reported that single-family mortgage debt outstanding rose 4.3% in 2020 to $11.666 trillion. Of that total, $8.104 trillion, or 69.4%, was committed to mortgage securities.
It stands to reason that rising rates would fuel servicing valuations. Some brokers expect a strong second quarter in sales, with the third quarter even better.
Plush with record earnings, loanDepot is building an inhouse servicing system, which means its current vendor, eventually, will lose business. Meanwhile, is GSE reform a possibility once again?
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