QM/QRM/Dodd-Frank Might Be Killing Off Joint Ventures
August 12, 2013
Up until recently, if a mortgage joint venture of Wells Fargo asked its partner if the megabank was still feeling the love for joint ventures, the answer would’ve been yes. At least that’s the word from one JV executive who received the news recently that Wells was tossing all of its origination JVs overboard. Earlier in the year, the bank told its two largest JVs – HomeServices Lending and Prosperity Mortgage – that everything was hunky dory. Well, apparently not. Of course, both Home and Prosperity needn’t worry...
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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