The InterLinc executive said there’s a great deal of interest from potential acquisition targets, but he cautions that, “Not everyone wants to make the move.”
The Obama administration is asking Congress for authority to charge FHA lenders an “administrative fee” to help pay for improvements to the FHA quality assurance program. FHA wants to build a new quality assurance framework that will provide lenders more clarity about the agency’s expectations regarding the loan production process, said FHA Commissioner Carol Galante during a media briefing on provisions in the administration’s fiscal 2015 budget proposal that affect the Department of Housing and Urban Development. The idea is...
GOP senators recently dispatched a letter to FHFA Director Mel Watt, countering a plea signed by 33 Democrats in January calling on the agency director to immediately authorize GSE funding to the National Housing Trust Fund and the Capital Magnet Fund.
Mortgage bankers are concerned how the proposed FHA fee will be applied and whether it may cause lenders to become even more cautious and less incented to use the full FHA credit box.
Some mortgage technology consultants, speaking on-background, are prophesizing that the investment will lead to Google moving into the realty market and becoming a direct competitor to traditional Realtors.
Prospect Mortgage had roughly $975 million in committed warehouse lines at yearend. Its three largest providers include UBS Securities, Bank of America/Merrill Lynch and Fannie Mae.
In early September, in an exclusive report, Inside Mortgage Finance broke the news about funding delays at the company. At the time, a Nationstar spokesman blamed the situation on the changing of document custodian vendors. (It would not name the vendor.)
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