Even though loan forbearance is an issue that won’t go away, some FHA lenders are reporting off-the-charts profit margins. Included in that club: Mr. Cooper.
Selling servicing rights, Ginnie Mae or otherwise, is no easy task these days, given the financial damage caused by the pandemic. However, green shoots may be emerging.
Ginnie officials have received high marks from the industry for setting up a liquidity facility during the early days of the coronavirus crisis. But how many program applicants have there been? We may find out soon.
Thanks to a tweak in regulatory language, approved Ginnie Mae servicers can access financing for servicing advances. PennyMac was the first to sign up. Will other nonbanks follow?
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