Fannie Mae’s “bifurcated” mortgage program that allows lenders to get a better price for selling their mortgage servicing rights while retaining representations and warranties tied to origination and sale to the government-sponsored enterprise has been gathering momentum over the past six months. According to servicing advisors, the effort has played an important role in returning liquidity to the MSR market, especially for medium-sized lenders that lived in fear of buybacks and headaches tied to representations and warranties. “The program is...