“Cheap is the goal now,” said Chuck Klein, a managing partner at Mortgage Banking Solutions, Austin, TX. “I’m seeing many mortgage-banking firms that want to buy, and they’re looking at either smaller firms or branches.”
Citadel is the most active non-agency, non-prime lender in the U.S. In an interview with IMFnews, company founder and CEO Dan Perl said, “We’ll do $11 million to $12 million, at least" for the month of March.
Even though the Johnson-Crapo bill has no future outside of the Senate, one thing is certain regarding Fannie and Freddie: the two will continue to earn a ton of money going forward.
According to exclusive figures compiled by Inside Mortgage Finance, once Fifth Third departs, there will be just two depositories in the top 10: Flagstar and U.S. Bank.
Mortgage repurchases peaked in 2009 at $34.276 billion, fell to $31.811 billion in 2010 and $20.943 billion in 2011, and then dropped to just $12.966 billion in 2012.
According to exclusive survey figures compiled by Inside Mortgage Finance, loan brokers accounted for 9.8 percent of all originations in the fourth quarter, a slight improvement from the 9.6 percent market share reading in the third quarter.
Among other things, the eligibility standards will establish new risk-to-capital ratios for the nation’s seven active MI firms and could dictate how much in the way of dividends an MI can upstream to its parent company.
RSS