A mortgage executive who works in the Florida market said he is tired of seeing his deals slowed down because a title company owned by a builder was forced upon a borrower.
The sale is notable not only for its size, but for the fact that MBS and Morvest – partners on this auction – don’t normally sell servicing rights as part of their advisory practices.
The latest tally from Inside The GSEs has Fannie and Freddie repaying all of their borrowings from the U.S. Treasury plus an additional $50.6 billion – money that has gone directly into the government’s coffers.
There has long been a concern in the market that if either GSE has a negative net worth, that investors will stop buying their MBS, which would cause the home buying process in America to crumble.
In a recent letter to HUD Secretary Julian Castro, 69 House members called for policy changes that would relax FHA restrictions to facilitate the purchase and sale of condominiums.