There have been scattered reports that some lenders and brokers are still chasing quick-turn refis aided by secondary market investors offering to buy and securitize those loans.
Although 2017 is expected to be a down year for originations, Freedom Mortgage – already a top-10 ranked lender – is poised for growth via mergers and acquisitions and is pondering deals for both servicing rights and other shops. Company CEO and founder Stanley Middleman told Inside Mortgage Finance bluntly: “We’re shopping.” Although Middleman declined to name any targets, he said...
The Department of Veterans Affairs is considering possible solutions, including new regulation or policy changes, to address the ongoing problem of aggressive refinancing of VA purchase loans. Certain lenders and mortgage brokers apparently are still soliciting VA purchase loans for streamline refinancing despite Ginnie Mae’s effort to stop the practice and help mortgage-securities investors get full return on their investments. Ginnie Mae issued...