Fed Chairman Janet Yellen on the future of Fannie and Freddie: “…I would hope that Congress would decide explicitly on what the government’s role is and if there are guarantees, that they would be recognized and priced appropriately.”
Sponsors can generally meet the requirements by retaining the most subordinate tranches of the securitization equaling at least 5.0 percent of the deal…
Among the key announcements: the company is selling its PHH Home Loans joint venture to Guaranteed Rate; unloading its private label operations to LenderLive Network, and monetizing “certain” servicing assets.