Most of the changes are in the portion earmarked for direct endorsement lenders, which often have been the target of False Claims Act lawsuits filed by the Department of Justice...
“These are serious loan officers,” he noted. Just how serious? According to the show’s website, some of the top producing LOs in attendance earn between $500,000 and $5 million…
Although no “large” mortgage companies have changed hands in quite some time, investor interest in small to medium-sized lenders remains strong as banks, private-equity funds and nonbanks continue to show their interest as buyers. Since last fall, at least 25 deals have been publicly disclosed, according to sales tracked by Inside Mortgage Finance, but none of the originators have been larger than $4 billion a year in production. According to interviews conducted over the past week with investment banking advisors, in the months ahead lenders that originate between $500 million to $2 billion a year are...
It stands to reason that by waiving the charge that Freddie might take in less revenue, but a GSE spokesman said as a financial matter, “it’s not material.”
The former analyst said Freddie has “an inferior security [MBS] necessitating the need for a lot of time and expense to create a common securitization platform…”