Few in the industry believe Quicken will actually bolt the FHA program, noting that similar saber-rattling was done by JPMorgan Chairman and CEO Jamie Dimon last year...
With the second quarter in full swing, several advisory firms are actively offering packages, including Interactive Mortgage Advisors, Phoenix Capital and The Prestwick Group.
But not to worry: the FHFA said the projections were mandated under the Dodd-Frank Act, cautioning that its estimate is just that, and not an expected outcome….
The Blackstone Group is on the hunt to buy mortgage companies, including both lenders and servicers, according to industry advisors and others who have been briefed on the company’s plans. Blackstone, without disclosure, recently purchased Gateway Funding in Horsham, PA, and is in negotiations to buy PMAC Lending Services, sources contend. It also is talking to a company that goes by the name of Pinnacle, though there are several firms with that name, and at press time it was unclear which one. Observers describe...
It’s likely that provisions to automatically designate residential loans held in portfolio as qualified mortgages will be included in a legislative package...
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