Wall Street will hit the halls of Congress on the issue of eminent domain. Meanwhile, these lenders are refi-heavy: Wells Fargo, Chase, and Quicken. See our exclusive list.
The decline in refinance mortgage lending that began in early 2013 continued into the third quarter, with refi originations moving to their lowest level in two years. According to a new Inside Mortgage Finance ranking and analysis, refinance mortgage production fell 12.9 percent from the first quarter of 2013 to the second, with an estimated $332.0 billion in new originations for the period. Refinance production has continued to decline since the end of June. Securitization of refinance loans by Fannie Mae, Freddie Mac and Ginnie Mae declined...[Includes three data charts]
It’s no secret that it’s now a seller’s market for mortgage servicing rights, even for legacy portfolios that are suffering from high delinquency rates. But that isn’t stopping outside cash from plowing into the receivables game. “There continues to be a lot of money out there seeking to invest in the MSR market,” said Mark Garland, president of MountainView Servicing Group, Denver. Over the past two years, upwards of $1 billion has been raised...
Fannie Mae has yet to implement a red flag system to identify trends and data anomalies for servicer reimbursements, according to a new report from the FHFA Inspector General.
Brokers and others who do business with Nationstar Mortgage said they’ve been hearing stories about two-week delays on funds being delivered. Meanwhile, FHA has run out of multifamily money.
The top 20 bank and thrift mortgage servicers all reported increases in their MSR valuations, according to exclusive figures from Inside Mortgage Trends.
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