More trouble for Walter Investment Management? Meanwhile, according to NTC, as many as 490,000 homeowners could be affected by faulty servicer database records.
Mortgage lenders continued to work through a huge pile of repurchase demands related to loans securitized by Fannie Mae and Freddie Mac before the housing market crash. The two government-sponsored enterprises reported a total of $1.269 billion of repurchases by sellers during the second quarter of 2014, according to a new analysis by Inside Mortgage Trends, an affiliated newsletter, of Securities and Exchange Commission filings by the two GSEs. That compared to just $522.5 million in repurchases during the first quarter of this year. As has been the case since the buyback issue mushroomed several years ago, most of the second-quarter repurchases focused...[Includes one data chart]
Officially launched a year ago, the Bethesda, MD-based Common Securitization Solutions has no chief executive officer or chairman but continues to hire staff.
Analysts at Bank of America Merrill Lynch are predicting a solid fourth quarter for jumbo MBS, enough to bring the total for 2014 up to about $8.0 billion when the year is over.