“We believe the implementation of state-specific standards offered in the proposal would create consumer uncertainty, add additional costs and produce possible deviations from federal law,” wrote the trade groups.
According to figures compiled by Inside Mortgage Finance, the Santa Ana, CA-based Stearns ranked 21st among all home originators in the first quarter, while Finance of America, Horsham, PA, ranked 30th. Combined, the two would’ve been 15th...
Freddie Mac has long used a variety of tools to maintain a 40% share of GSE business, including discounted MBS guarantee fees and buying more of its own issuance. But one of the primary purposes of the uniform MBS program was to put the two GSEs on a more level playing field.
Citi’s strong showing is likely a harbinger of good news for the residential sector, especially since Citi uses predominantly retail/direct – with some correspondent – to produce loans. In the first quarter, the bank ranked 22nd among all funders...
The next step might be to create a limited liability regulated entity (LLRE) which would succeed the GSE. After that, the LLRE (once capital is raised) becomes a new company and the charter is sold to new owners. From what we understand, the FHFA has the legal power to sell the charter...
As Wedbush and other research firms have pointed out: Mr. Cooper does not hedge its MSR positions, resulting in large non-cash marks when rates decline from quarter to quarter, and write-ups when interest rates increase.
The trade groups are calling on the Department of Housing and Urban Development to either remove FHA certifications or replace them with a straightforward lender acknowledgement of key requirements based on loan eligibility…
The robust second quarter brought year-to-date agency MBS issuance to $562.02 billion, just 1.3% below the level reached in the first six months of last year.
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