It’s no secret that home lenders are enjoying boom times. According to figures published by Inside Mortgage Finance last month, mortgage bankers funded a mouth-watering $700 billion in first-liens in the quarter, the strongest showing of the year.
Along with the increase to the baseline limit, caps on Fannie Mae, Freddie Mac and government-insured loans in high-cost areas would also rise, to as much as $760,000…
Although interest rate volatility played havoc for companies with unhedged servicing portfolios, a sharply growing refinance market provided a windfall of production income.
The decision, hinted at in numerous (recent) press briefings by FHFA Director Mark Calabria, is not expected delay to companies’ exit from conservatorship.