Guaranteed Rate, long the subject of sale rumors, has agreed to sell a chunk of the company to private equity firm Thomas H. Lee Partners, fueling speculation that in time the rest of the nonbank might be placed on the auction block.
Ginnie Mae remained the fastest-growing component of the single-family servicing market dur-ing the third quarter of 2017, expanding at roughly twice the speed of the overall market, according to a new Inside Mortgage Finance ranking and analysis.
State regulators are increasingly requiring investors in mortgage servicing rights to get servicer li-censes even if they don’t perform any loan administration functions, according to industry lawyers.
Fannie Mae and Freddie Mac are ramping up efforts to support the affordable housing market by financing manufactured housing loans titled as personal property and developing new financing to re-habilitate aging properties.
The U.S. Court of Appeals for the Seventh Circuit has joined four other circuits in raising the bar for arguing government cases under the federal False Claims Act, potentially making it harder for the government or whistleblowers to pursue such claims against FHA lenders.
New York financial services regulators have ordered PHH Mortgage to pay $119,000 in penalties for failing to maintain a vacant and abandoned property in violation of state’s “zombie” foreclosure law.
Washington Analysis believes the FHFA/Treasury move is a “clear positive for shareholders in the GSEs, particularly holders of junior preferred shares..."
The correspondent share of jumbo originations has risen in the past year while the retail share declined, according to a new analysis by Inside Nonconforming Markets. The survey found that correspondent production accounted for 18.1 percent of jumbo originations in the third quarter of 2017, up from a 14.3 percent share in the third quarter of 2016. During that time, the retail share of the lenders’ jumbo production fell from 81.3 percent to ... [Includes one data chart]
As Congress worked on tax reform legislation, participants in the structured finance market didn’t raise many concerns, but the bill passed this week could cause some problems for MBS and ABS markets, according to the Structured Finance Industry Group.
It’s been an ugly year for retail chain bankruptcies, which means investors in commercial MBS backed by such properties are continuing to feel queasy about some of the bonds they own.