Although Fannie Mae and Freddie Mac have, for years, had minimum capital requirements for mortgage companies that want to become seller/servicers, the Federal Housing Finance Agency and state regulators are now exploring codifying a capital minimum for nonbanks, according to industry officials and state regulators. During a webinar this week sponsored by Inside Mortgage Finance, participants highlighted the “hot topic” nature of capital requirements for nonbanks. John Prendergast, vice president of non-depository supervision for the Conference of State Bank Supervisors, indicated that capital requirements for nonbanks are more of a matter of when, not if. However, participants who have been tracking the matter caution...
Regulatory scrutiny of the servicing sector appears unlikely to decrease anytime soon as officials with the Consumer Financial Protection Bureau along with state regulators note that regulation of servicing is a top priority. During a webinar this week hosted by Inside Mortgage Finance, Ann Thompson, a senior analyst in the CFPB’s Office of Supervision Policy, said the federal regulator conducts a risk-based analysis of issues affecting consumers. “Mortgage-related issues are presenting...
The market for large "legacy" MSR deals appears to be ice cold. Then again, last week there were rumors that a $50 billion transaction might be in the works.
Mortgage REITs found a cheap source of funding in the Federal Home Loan Bank system. But will the FHFA permanently block their access or just restrict it?
We talked a handful of wholesalers and were told the figure is much lower – in the range of 2.2 percent to 2.5 percent. Broker-sourced loans account for less than 10 percent of all loans funded today,
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