Retail production shops and mortgage brokers managed to sustain origination volumes fairly well in the fourth quarter of 2017, but correspondent platforms had a tougher time of it, according to a new Inside Mortgage Finance ranking and analysis.
In a white paper published on PIMCO’s website, four company executives said the conservatorship of the two government-sponsored enterprises has been “immensely successful” and should be a part of the reform solution.
A key GOP lawmaker is raising concerns about $353 million in funds slated to be paid by Fannie Mae and Freddie Mac toward affordable housing programs, while a liberal-leaning think tank tries to show that a proposed Senate reform plan would do more for affordable housing than critics say.
Flagstar Bancorp agreed Tuesday to buy the mortgage warehouse loan portfolio from Santander Bank. The deal will make Flagstar the fourth largest warehouse loan provider by commitments.
Over the past 12 months, Stearns Lending has jettisoned its delegated correspondent lending platform and recently sold most of its $23.2 billion servicing portfolio, raising new questions about the company’s direction.
Fannie Mae and Freddie Mac observers are scratching their heads about “minimum return on equity” requirements that the Federal Housing Finance Agency has imposed, somewhat mysteriously, on the two government-sponsored enterprises.
According to their financial disclosures and company officials, both GSEs saw a sharp decline in the average guarantee fee they charged on new MBS issued during the fourth quarter…
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