Investors at private equity firms told IMFnews that they believe Lawsky is using the DFS as a “bully pulpit,” paving the way for a possible run for public office.
The InterLinc executive said there’s a great deal of interest from potential acquisition targets, but he cautions that, “Not everyone wants to make the move.”
GOP senators recently dispatched a letter to FHFA Director Mel Watt, countering a plea signed by 33 Democrats in January calling on the agency director to immediately authorize GSE funding to the National Housing Trust Fund and the Capital Magnet Fund.
Mortgage bankers are concerned how the proposed FHA fee will be applied and whether it may cause lenders to become even more cautious and less incented to use the full FHA credit box.
Some mortgage technology consultants, speaking on-background, are prophesizing that the investment will lead to Google moving into the realty market and becoming a direct competitor to traditional Realtors.
Prospect Mortgage had roughly $975 million in committed warehouse lines at yearend. Its three largest providers include UBS Securities, Bank of America/Merrill Lynch and Fannie Mae.
In early September, in an exclusive report, Inside Mortgage Finance broke the news about funding delays at the company. At the time, a Nationstar spokesman blamed the situation on the changing of document custodian vendors. (It would not name the vendor.)
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