The bull market in debt offerings by mortgage-related vendors continues. The latest participant: ICE, which is buying Ellie Mae for a stunning $11 billion.
At the very least, mortgage executives are hoping for a delay in the implementation date on the new refi fee promulgated by Fannie Mae and Freddie Mac.
The senators said they find it distressing that such a large fee would be introduced “with no consultation with Congress and no notice to external stakeholders.”
The SPAC, which carries the name Foley Trasimeme Acquisition Corp. II, has a stated goal of effecting mergers and/or buying capital stock in the “financial technology space.” Asset acquisitions are also part of the plan.
However, there’s a catch to the Ginnie number. Servicers of government product, especially depositories with a balance sheet, increasingly are buying delinquent FHA and VA loans out of MBS pools as a way to save money and possibly rehabilitate them down the road.