The publicly traded Impac is based in Irvine, CA. Its share price is currently at $7.34, more than double what it was in June. Donatacci will split his time between California and New York.
Back in 2011, large bank servicers – including Wells Fargo, JPMorgan and Bank of America – controlled roughly 94% of the mortgage servicing market, a fact cited in a new report from the Conference of State Bank Supervisors. Today, just four commercial banks rank among the top 10 servicers.
The lifting of the sanctions comes amid a recent report by Bloomberg that New Day Chairman Emeritus Joe Murin might be a candidate to be the next permanent president of the government guarantor.
One Fannie/Freddie historian reminded us recently that there used to be a conforming loan limit for GSE multifamily loans. The big question: Why did it disappear?...
Some industry observers wondered about the timing of the disclosures, given the imminent release of the Treasury Department’s GSE reform plan. One former Fannie executive told IMFnews: “There will be big shakeups at Fannie and Freddie if they cap all in comp at $600,000.”
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