Two nonbanks among the top five servicers now control almost 9 percent of the residential receivables market. Should regulators be worried? Should the MBA?
Matt Monahan is expected to aid HL as it tries to take advantage of a red hot market for servicing sales. A former deal maker at Cohane Rafferty Securities, he will beef-up HLs mortgage sales force.
IMA is out with a new $1.294 billion package of bulk Ginnie Mae MSRs, plus a monthly flow deal that could net a buyer an additional $900 million in Fannie Mae/Freddie Mac and Ginnie rights.
In an email exchange with IMFnews, RFC's Stein confirmed the sale, but declined to provide any details including the size of the MSRs or the purchase price.
Federal regulators have yet to finalize their qualified residential mortgage rulemaking, but housing finance experts are already trying to figure out how lending is going to be affected by the interplay of the QRM rule and the qualified mortgage standard as per the CFPBs ability-to-repay rule. As the new lending environment unfolds, the liability risks associated with non-QM and QRM loans is one of the things that is particularly troublesome to some. The worse-case scenario that I worry about is that we see a repeat of what we saw in...