Freddie notes, “The volume of specialty servicing may shrink as the number of legacy loans dwindles, but specialty servicing is likely to remain an active part of the mortgage servicing industry…”
Stearns Lending was the top table funder in 3Q15 with $2.95 billion originated through loan brokers. United Wholesale Mortgage was an extremely close second at $2.94 billion.
The Federal Housing Finance Agency filed a motion last week to dismiss a lawsuit that was filed by Fannie Mae and Freddie Mac shareholders in Delaware this summer who argued that the Treasury sweep of the government-sponsored enterprises’ profits is illegal under state law. The complaint stated that with Fannie chartered under Delaware law and Freddie under Virginia’s jurisdiction, the preferred stock of a corporation cannot be given a cumulative dividend right equal to all the ...
In the same blog post, Hsieh – who did not talk to the press about the scuttled IPO – described loanDepot as a “unicorn startup,” calling it “one of the very few success stories not from Silicon Valley.
Loan-level data from single-family mortgage-backed securities issued by Fannie Mae and Freddie Mac show subtle signs of credit easing so far in 2015, according to a new Inside The GSEs analysis.Average credit scores and debt-to-income ratios, when loans are sorted by purpose, have bounced around from month to month without showing much indication that lenders are making loans to riskier borrowers. The average credit score for purchase mortgages securitized in January, for example, was 750.5. In October, it was 751.7, and the average for the first 10 months of the year was 752.0. Refi loans generally have lower credit scores; the average so far for 2015 is 745.3, but there is some evidence that the credit box has been expanding in...
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