Lobbyists and analysts who track the market are unanimous on one key issue: GSE loan limits. From what were told, Watt will shelve any thought of lowering the Fannie Mae/Freddie Mac mortgage limit in 2014.
With refinance volume falling and minimum net-worth requirements heading north, advisors in the mergers-and-acquisitions market say undercapitalized firms should sell now, while they still can. Larry Charbonneau, a principal of Charbonneau & Associates of Texas, said he is currently working on four deals but noted that, There a lot of shops out there with less than $5 million in capital that need to do something but havent realized it yet. Although Fannie Mae and Freddie Mac have net-worth minimums in the $3 million range, there is...
Ocwen Financial, the nations top-ranked subprime servicer, was the only firm among the major servicers that increased its subprime servicing portfolio (excluding subservicing) in the third quarter of 2013.
Mortgage professionals who work the M&A trade contend that interest in residential finance is not waning in the least, but potential buyers are being a bit more choosey these days.
One last thought on Berkowitz and Fairholme: To get Congress to listen to your ideas you have to donate money. Berkowitz can check that box off his to-do list. He has been a generous donor to Republicans and Democrats alike over the past two election cycles.