The FHFA wants to place a volume cap on mortgages sold through the Fannie/Freddie cash window. An effort to boost lender securitizations or something else?
As LBA Ware CEO Lori Brewer put it, “They were rewarded for their long hours with robust compensation checks.” However, with rates predicted to fall in 2021, loan teams will probably have to focus more on purchase loans, Brewer said.
“The offering consists of 9.41 million shares of common stock being sold by loanDepot and 5.59 million shares of common … being sold by certain funds managed by Parthenon Capital Partners,” the firm said.
The concern centers on a clause that states beginning January 2022, the FHFA will cap the amount of mortgages any lender can deliver to the cash window at $1.5 billion over any four-quarter period.
The number of Ginnie Mae loans in forbearance came in at 7.61%, down 6 bps for the week while the Fannie Mae/Freddie Mac tally declined to 3.11%, a 2 bp improvement.
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