Justice Stephen Breyer raised eyebrows by characterizing the net worth sweep as a nationalization of the enterprises. “That’s what they did,” he said. “If you look at their giving the net worth to Treasury, it’s nationalizing the company.”
A revival could be underway in bulk MSR sales but the real fireworks may come in the first quarter of 2021. Pricing? It’s headed north, at least for GSE product.
She’s not a brain surgeon, but a Democratic legislator from the Rust Belt. Midweek, Joe Biden revealed Rep. Marcia Fudge as his pick for Housing secretary.
Mr. Cooper has agreed to pay more than $131 million to settle two separate investigations tied to servicing violations following the 2008 financial crisis.
Purchase-mortgage production is expected to climb to a record high next year, according to industry economists. Refis may not match this year’s unprecedented volume but will still remain strong.
The FHA/VA market was more subdued, with total conforming-jumbo loans pooled in Ginnie MBS rising 16.7%. The VA program accounted for 83.0% of government-insured jumbo volume, with quarterly securitization up 17.7%.
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