Advisors Complain About Vague Acknowledgement Letters on MSRs From Fannie Mae and Freddie Mac
April 11, 2013
Theres a growing interest on the part of new investors in buying residential mortgage servicing rights, but observers say a major impediment for the market is a lack of confidence that Fannie Mae and Freddie Mac will acknowledge their ownership rights. Its a problem, said Tom Piercy, managing member of Interactive Mortgage Advisors, a servicing brokerage and advisory firm. Fannie and Freddie could learn a thing or two from Ginnie. The phrase new investors generally applies...