The other lenders that Moody's looked at: Ditech Financial, Freedom Mortgage, Mr. Cooper, New Residential, Ocwen Financial, PennyMac Financial Services, Provident Funding Associates and Stearns Lending...
“This case, which clearly presents the question whether the CFPB is constitutional, is an ideal vehicle for the court’s review,” wrote Seila Law. “The petition for a writ of certiorari should therefore be granted.”
Mortgages eligible for sale to the GSEs will account for 13.1% of the $353.4 million deal, which is more than double the share of GSE-eligible mortgages in the previous expanded-credit MBS from Redwood.
The Chapter 11 bankruptcy petition provides a way for Stearns to eliminate the debt while selling the balance of the firm to Blackstone. But there’s a catch: the bankruptcy plan allows for third-party investors to make a bid for Stearns.
We understand from informed sources that paying off Fannie/Freddie shareholders (the ones suing Uncle Sam) is calculation that certain federal officials have entertained.
Despite the so-so reading from the government, nonbank mortgage giants the likes of loanDepot and United Wholesale Mortgage continue to hire in large numbers.
Once effective, the requirements of the HECM law are significant, according to Allison Schoenthal, an attorney and partner in the New York office of Hogan Lovells...
RSS