Ditech is once again operating under Chapter 11 bankruptcy protection. But its problems, like a top subservicing client wanting out, are accelerating. Can the firm's advisors sell the shop before it's too late?
Annaly Capital Management Corp. and AGNC Investment Corp. continued their MBS-hoarding ways during the first quarter but have had to deal with paper losses and negative hedging marks thanks to lower interest rates.
Ginnie Mae has completed liquidity talks with its 14 largest nonbank issuers, but has yet to say what transpired during the meetings. But all that could change when the agency hosts its annual summit in June.
Ditech is about to lose a huge subservicing contract that it has with New Residential Investment Corp. A handful of subservicing vendors are considered finalists to replace Ditech, including market leader Cenlar and the number-three ranked LoanCare.
It appears that RoundPoint Mortgage is once again on the auction block. This time around, it looks as though the $90.5 billion residential servicer will be sold to top-ranked Freedom Mortgage, Stan Middleman's shop. But it's not a done deal, sources say, at least not yet.
To date, Fannie has upstreamed $179.0 billion in quarterly dividends to Uncle Sam versus assistance draws of $118.9 billion, giving it an account surplus of $59.2 billion...