The RFI appears to be in response to long-standing complaints about how the GSEs deal with properties that earn an income by providing transient housing...
Joe Garrett: “Companies that don’t seem to get too agitated about the occasional loss, and we’ve seen too many of them, seem to have more and larger losses than those companies that are obsessive about not losing money.”
PennyMac's income fell by 17% on a sequential basis in the first quarter, originations declined by 3.5% while the nonbank's servicing portfolio grew by 5.2%.
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