Some GSE watchers fear that new Federal Housing Finance Agency director Mel Watt might slow GSE risk sharing deals but those concerns may be unwarranted.
In a letter sent to new agency Director Mel Watt, GOP Congressmen Scott Garrett, Randy Neugebauer and John Campbell note that the 10 basis point increase proposed by Watt’s predecessor is not the only fee adjustment up for grabs.
“Transactions submitted with consumer-paid compensation more than 50 bps below [the] broker’s lender-paid tier will be rejected permanently and will not be eligible for re-submission,” Fifth Third Bank is warning.
MGIC's stock is trading near a 52-week high of $8.82 a share. The company, like the rest of the sector, is anxiously waiting on new capital-to-risk standards from FHFA.
If elected, Savitt hopes to serve on the House Financial Services Committee. A past annual president of the National Association of Mortgage Brokers, he formed NAIHP five years ago.