Despite the huge losses posted by PHH, James Egan, chairman of the board, said Messina “has led PHH with vision, decisiveness and integrity through one of the most turbulent periods in the mortgage industry in decades...”
The GSEs have developed proposals to more closely align their mortgage insurance master policies with their reps-and-warranties policies, which will be reviewed by the FHFA this year.
But the issue is hardly settled. Ron Haynie, senior vice president of mortgage policy at the ICBA, told Inside Mortgage Finance that he expects a change in the dividend payment this year.
Joe Farr, director of marketing for MBS Quoteline, said MBS prices have actually improved since the Federal Reserve’s decision to hike rates one week ago.
A former Fannie executive said it was always his belief the GSE charter allowed for multifamily financing but the idea was to fund “vertical” homes and not “horizontal.”
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