Cole Taylor Mortgage is getting serious about the servicing business. It purchased a portfolio from Liberty Savings and plans to start its own in-house platform.
There is at least one curiosity in the GSE draft bill: any individual who ever served as a director of the Federal Housing Finance Agency is prohibited from serving as a board member on the new Federal Mortgage Insurance Corp.
Any successor to the GSEs that operates with a federal guarantee should charge the same guaranty fee price for all sellers, regardless of size, the trade group says.
Speculators have been gobbling up GSE junior preferred and common, hoping for a payout down the road tied to either the resumption of dividends or money that might come from a recovery fund.
EverBank Financial is preparing to issue a $303.30 million non-agency jumbo mortgage-backed security, according to a presale report issued by DBRS this week. The MBS has similar characteristics to the $307 million jumbo security EverBank issued in March. DBRS cited strong reps and warrants on the deal, including automatic reviews for seriously delinquent loans, mandatory arbitration and no sunset provisions. However, the rating service said EverBanks limited securitization history and ...