Oklahoma-based First Mortgage’s former President Ron McCord faces 24 counts of bank fraud, money laundering and making a false statement to a financial institution.
Mortgage servicing rights have little value in today’s secondary market, but investment bankers predict that one day, maybe soon, this volatile asset will once again rise from the ashes.
UWM has rolled out an ambitious new program to fund a ton of conventional FRMs at 2.5%. Meanwhile, Fannie/Freddie borrowers have a new COVID-19 payment deferral option.
The A-paper M&A market is in the doldrums. The reason: lenders are making money hand-over-fist and company owners are hanging on for one last shot at the refi rodeo.
Low interest rates are great for lenders but servicers are having a tough time of it, especially shops looking to unload product. One dealmaker is advising clients to sell MSRs now before they “vaporize.”
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