Fitch says nonbank servicers resolve delinquencies at a significantly faster pace than banks, partly due to the loss-mitigation requirements for the five big banks included in the $25 billion national servicing settlement.
Treasury could withhold HAMP incentive payments to CitiMortgage, but noted that after considering all relevant factors, it has chosen not to at this time.
A new report from FHFA confirms what small mortgage firms have long known: they can't catch much of break when it comes to Fannie Mae and Freddie Mac guaranty fees.
With the increase, the average g-fee for new loans will be in the range of 60 basis points. But there is some good news: FHFA said it would eliminate the up-front adverse market fee of 25 bps assessed on all but the four states whose foreclosure carrying costs are more than two standard deviations greater than the national average.