According to one servicing advisor, large banks including Wells Fargo have been quietly selling excess servicing rights through private securitizations.
One mortgage recruiter noted that job losses in somewhat rural communities can be a big problem for workers. Sometimes theyre the largest employer in town and theres nowhere else to go, he said.
Golf is for slackers. Inside Mortgage Finance knows of at least four veteran mortgage banking executives who, after retiring, are looking to reenter the business.
The most important take away from this weeks loan limit reduction news: Congress warning DeMarco that hed better defer to them on loan limits. His reply: radio silence. Meanwhile, Wells tosses Freddie overboard, sort of.
As the government shutdown continues and many federal workers go without pay checks, theres a growing concern that these potential borrowers will see their credit scores get dinged.