One trade group source had this to say about the arrangement: “There’s no g-fee break? Then it doesn’t sound like front-end coverage that helps lenders.”
Requirement for the program include: three years of mortgage experience, a statement on production goals, anticipated operational structure and a description of the company.
According to Treasury Department reports, overseas investors held $821.3 billion of Fannie, Freddie and Ginnie MBS at the end of June, a 5.0 percent increase from March.