The great irony: As federally insured banks continued to lose residential lending market share to the Quickens and the Freedom Mortgages of the world, their investment banking units benefitted by arming the competition.
Fannie was quick to point out that borrowers harmed by the pandemic receive temporary payment forbearance, which is different from principal forbearance.
MBA's Broeksmit was reacting to a Facebook speech delivered by Ishbia who gave the company’s broker/partners an ultimatum: If they work with Rocket Mortgage or Fairway Independent Mortgage, they can’t work for UWM.
According to FHFA’s own performance and accountability reports, the number of employees at the agency grew from 609 in 2019 to 635 in 2020. More tellingly, FHFA has budgeted for an additional 113 employees in 2021.
The agencies issued $304.15 billion of new single-family MBS in February — the fifth straight month over the $300 billion mark, a level never seen until August of last year.
Mike Baldwin: He added: “Productivity is up along with the volume, so we have been very pleased. I really can’t cite any challenges that arose from working remotely. We’ll continue to be flexible.”
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