She’s not a brain surgeon, but a Democratic legislator from the Rust Belt. Midweek, Joe Biden revealed Rep. Marcia Fudge as his pick for Housing secretary.
The CEOs of Freedom Mortgage and Caliber Home Loans said nonbanks, which face heavy criticism from regulators, don’t necessarily have a riskier business model than depositories.
Booming refi business is generating strong profits for nonbank lender/servicers, easing concerns about liquidity. Still, some nonbank servicers are calling on the Federal Home Loan Banks for financing lines.
Not only are large nonbanks contemplating IPOs but smaller shops are as well. With mortgage banking considered a cyclical business, will it end badly or is it different this time around?
If you thought the second quarter was a barn burner for loan production, just wait until you see the results for the third quarter. Across the board, executives are predicting stellar results.
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