In other subprime news, industry veteran Jon Daurio was recently in New York talking to potential investors about his new nonbank venture, Nikkael Capital Corp.
The top reasons for FHA condo denials include financial instability, pending litigation, insufficient insurance coverage and outdated or missing documentation.
Eminent domain may be a local matter, but in the context of seizing mortgages, its use would have national consequences, the four senators write in their letter to Treasury Secretary Jack Lew.
Just how big is Wells Fargo's Ginnie Mae market share? At Sept. 30, the bank controlled 31.53 percent of the market. Its closest competitor was JPMorgan Chase with a mere 11.75 percent.