One servicing advisor told us he anticipated his clients (smaller shops) would likely take a hit of 2 to 5 bps on their MSRs, but it looks like the big boys are reporting numbers that are worse than that...
The warning comes in the wake of a Government Accountability Office report identifying weaknesses in FHA’s oversight of HECMs, particularly in monitoring, performance assessment and reporting.
Keep in mind that, Ginnie MBS is back-stopped by the full faith and credit of the U.S. government. By comparison, Fannie Mae/Freddie Mac MBS carry an “implied” guarantee.
Sources indicated that Kasper was hoping to be nominated as permanent president; but, in what has become a pattern for the Trump administration, the nomination notice never came.
RSS