Critics argue the new second mortgage program is another attempt by Freddie Mac to expand its footprint. But GSE insiders say it’s already allowed under its charter.
VA Secretary Denis McDonough pledged to be transparent with lawmakers on the new VA loss-mitigation program. He said congressional oversight will strengthen performance of the program.
Originators hate rising interest rates for the impact it has on production, but owners of servicing rights and their dealmakers couldn’t be happier. One benefit in today’s market: MSR bid prices are strong.