The upcoming White House meeting on mortgage and housing issues may not address loan standards at all. Wells confirms plan to hire MSR 'project manager.'
Just how hot is the jumbo MBS market? Consider this: Some $3.95 billion in non-agency jumbo MBS was issued in the first quarter, compared with $3.46 billion in issuance in all of last year.
According to the government, Golden First Mortgage Corp. of Great Neck, NY, failed to carry out its duties and responsibilities as a direct endorsement lender, leaving FHA with large losses.