Although originations and net income increased at PennyMac Financial, the company took a loss on servicing activities during the fourth quarter due to hedges.
Former FHA Commissioner Dave Stevens: “The absence of banks in FHA has been a challenge ever since the False Claims Act was used as an excessive enforcement mechanism, making it far too great a risk to participate in the program.”
After the FCA payment to Uncle Sam, JPM remained as a correspondent buyer of FHA loans but its Ginnie Mae MBS issuance volume has slipped tremendously…
The AGs believe depriving the CFPB of its powers would harm the states by eliminating the agency’s independent enforcement efforts and the valuable assistance it provides…
In the grand scheme of things, longer close times may not seem like a disaster but for nonbanks using warehouse lines of credit that means loans have longer dwell times…
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