Stevens also said that while he was FHA commissioner he chose not to go after lenders for violating the False Claims Act because he said such actions would have opened a “Pandora’s Box.”
The eight nonbanks – including the top publicly traded firms that rank high in originations, servicing or both – posted a combined $40.5 million in mortgage-banking income during the first quarter.
Fidelity, a market leader in title insurance, has a market capitalization rate of $10.6 billion and is headed by William Foley, age 70, who has a history of spinning off companies.