The first quarter should be another earnings blowout for Fannie Mae and Freddie Mac. Right? Maybe, maybe not. MBS issuance is down quarter over quarter and falling rates should translate into negative hedging marks.
Are nonbanks really facing a coming liquidity crisis or is it just fear-mongering? It may depend on who you work for, but a recent op-ed piece by Caliber Home Loans CEO Sanjiv Das has kept the debate alive.
Owners of private mortgage firms often take cash out of their companies as a way to preserve wealth, but usually no one knows about it. A recent SEC filing by Mr. Cooper provides certain details on such a maneuver by a recent acquisition, Pacific Union Mortgage.