Concerns about red tape from lenders have prompted an increasing share of homebuyers to use all cash to purchase a home, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Some 29.3 percent of home purchases completed in November relied solely on cash, based on a three-month moving average. That was the third monthly increase in the share of cash transactions. Tom Popik, research director of Campbell Surveys, said...
The Federal Reserve will slightly decrease the amount of its monthly purchases of agency mortgage-backed securities but agency MBS issuance might decline by even more than the Fed's planned taper.
FHA officials first asked for the servicing authority back in June, but the request has gone nowhere. Fannie Mae and Freddie Mac already have transfer authority.
It may sound complicated, but it appears that Nationstar is selling a portion of its MSR fee on certain rights so it can deleverage and buy even more servicing.
The rating service this week placed the primary servicer rating of EverBank Mortgage on watch for a potential downgrade due to changes to the servicers platform.