With refinance volume falling and minimum net-worth requirements heading north, advisors in the mergers-and-acquisitions market say undercapitalized firms should sell now, while they still can. Larry Charbonneau, a principal of Charbonneau & Associates of Texas, said he is currently working on four deals but noted that, “There a lot of shops out there with less than $5 million in capital that need to do something but haven’t realized it yet.” Although Fannie Mae and Freddie Mac have net-worth minimums in the $3 million range, there is...
Wells Fargo once again ranked first among issuers with a market share of 29.6 percent, followed by Chase Home Finance (12.1 percent), and U.S. Bank (3.8 percent).
Analysts commenting on the settlement note that while JPM did not admit any violations of law, it acknowledged in a “statement of facts” section that employees did not comply with company underwriting guidelines and representations.
Speaking at a housing finance forum sponsored by the Urban Institute and CoreLogic, Gene Sperling, a White House economic advisor, said the Obama Administration believes the “risks are simply too great and that this would recreate the problems of the past.”
Due-diligence firms, which had hoped to prosper with the return of non-agency jumbo lending, have shown little growth in the non-agency space during the second half of the year.
Ocwen Financial, the nation’s top-ranked subprime servicer, was the only firm among the major servicers that increased its subprime servicing portfolio (excluding subservicing) in the third quarter of 2013.
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