Advisors Complain About ‘Vague’ Acknowledgement Letters on MSRs From Fannie Mae and Freddie Mac
April 11, 2013
There’s 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. “It’s 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...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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