These are trying times in the residential finance market. Mortgage rates are high, bond prices are falling and there’s a concern about a lack of MBS buyers. What to do? Let the Fed know how mad you are.
The New York-based financial firm admitted to providing false pricing information to residential MBS clients between 2009 and 2013. It also agreed to cooperate with investigations into former employees.
For mortgage servicers, costs can spike in the initial months following a disaster as they must make sure they have the customer service staff on hand to talk with impacted borrowers.
Ginnie Mae could relieve financial pressure on its nonbank issuers by guaranteeing their short-term obligations, according to a proposal from former Ginnie President Ted Tozer.
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