Mortgage REITs found a cheap source of funding in the Federal Home Loan Bank system. But will the FHFA permanently block their access or just restrict it?
We talked a handful of wholesalers and were told the figure is much lower – in the range of 2.2 percent to 2.5 percent. Broker-sourced loans account for less than 10 percent of all loans funded today,
Some rating agencies fear that many of the jumbo entrants not only lack historical loan performance data, but have not yet established track records for remedying representation and warranty breaches.
In other mortgage-stock news, Ellie Mae Co-founder, Chairman and CEO Sig Anderman has been exercising stock options of late, and selling shares in the company.