Richard Smith, chief marketing officer for Ditech, said the mortgages that the company originates will close in Ditech’s name, not in the name of Green Tree.
In case you didn’t notice, the price of Fannie and Freddie common rose about 5 percent Tuesday, after Watt spoke. In trading Wednesday, they were up again...
“This decision is motivated by concerns about how such a reduction could adversely impact the health of the current housing finance market,” said FHFA Director Mel Watt.
In his comments to reporters, FHFA Director Mel Watt did not rule out Fannie and Freddie engaging in principal reductions to help troubled consumers who have GSE loans.
On the M&A front, a new report from Compass Point Research & Trading estimates that if PHH Corp. finds a way to sell its mortgage and fleet divisions, the stock should be worth $30 a share.
Nationstar made “right-party” contact with delinquent borrowers to determine their eligibility for HAMP in only 65 percent of such cases from March 2013 through February, the government found.
Members of the Senate Banking, Housing and Urban Affairs Committee from each party said there is interest on Capitol Hill in moving technical corrections legislation aimed at the Dodd-Frank Wall Street Reform and Consumer Protection Act. However, housing finance reform legislation comes first, said Sen. Bob Corker, R-TN, and Sen. Heidi Heitkamp, D-ND, in comments to attendees at the Independent Community Bankers Association of America’s recent 2014 Washington policy summit. Neither explained exactly why housing reform is the priority, but one observer speculated that, in football terms, “it’s probably because housing reform is closer to the goal line.” Given the suddenly deteriorating prospects for the leading measure in that regard, the so-called Johnson-Crapo bill, that doesn’t bode well for those...
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