Brokers and others who do business with Nationstar Mortgage said theyve been hearing stories about two-week delays on funds being delivered. Meanwhile, FHA has run out of multifamily money.
Wells Fargo, JPMorgan Chase and Flagstar are all working on large servicing deals, but as sellers. Meanwhile, HUD is worried about lower GSE loan limits.
At an investor conference in New York this week, officials from Wells Fargo predicted that residential originations at the bank will fall 30 percent this quarter on a sequential basis.