Brokers and others who do business with Nationstar Mortgage said theyve been hearing stories about two-week delays on funds being delivered. Meanwhile, FHA has run out of multifamily money.
Despite growth in the non-agency jumbo market, primary market lenders remain focused on production that they can safely securitize through the GSEs and Ginnie Mae.
Mortgage buybacks can vary significantly among seller/servicers because its driven by business and legal processes rather than current market dynamics.