MountainView and The Prestwick Mortgage Group are out in the market with new deals for mortgage servicing rights. The new year should prove to busy for MSR sales.
Just how important are Fannie Mae and Freddie Mac to the revenue picture of the U.S. government? According to calculations from The Collingwood Group, a Washington-based consulting firm, GSE dividends in 2013 will be the fourth largest source of federal revenue.
During the next 12 months, investors will have to navigate through numerous uncertainties, including all forms of policy risk: monetary, fiscal, economic and the fate of the GSEs.
While banks have put an emphasis on originating jumbo mortgages for portfolio, the uptick in total mortgages outstanding was largely driven by originations of agency mortgages.
Freedom has big expansion plans for the new year. Company CEO and founder Stan Middleman recently told IMFnews Daily that he plans to hire between 200 and 500 residential loan officers in 2014.
Will well-known mortgage trainer Barry Habib stick with Residential Finance Corp., a company whose assets are in the process of being sold? Its hard to say since RFC isnt answering questions on about the firms future.
In the latest year-end closeout of buyback deals before the ball drops on 2013, Flagstar Bancorp announced late Monday that it has entered into an agreement with Freddie Mac to resolve substantially claims that the bank sold faulty mortgage loans to the GSE between 2000 and 2008.
Ratings on servicer advance asset-backed securities issued by Home Loan Servicing Solutions and Nationstar Mortgage could be downgraded due to a change in rating criteria by Standard & Poors that was implemented after the ABS were issued.