Although heavy refinancing activity accounted for the fourth-quarter uptick in MBS issuance, 2016 was also a strong purchase-mortgage market…
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One industry source noted: “On January 20, President Trump will be issuing an executive order that freezes all past actions over a certain period of time. The FHA premium reduction gets swept into this.”
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DB was faulted for failing to disclose second liens on mortgages in MBS and for concealing refreshed credit scores that were worse that the credit scores disclosed to investors.
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One mortgage insurance lobbyist, when informed of the possibility, called it “great news” while two lenders we interviewed said it was an awful development…
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