Nationstar appears to be the winning bidder on the Taylor Bean & Whitaker MSR pacakge. Meanwhile: Ed DeMarco, the most powerful man in mortgage finance today?
Reverse Mortgage Solutions, a HECM lender bought by Walter Investment Management Corp. last fall, has received a $100 million warehouse line of credit from Royal Bank of Scotland, according to a new filing with the Securities and Exchange Commission. The line is legally structured as a master repurchase agreement. However, it is also considered uncommitted and matures in February of 2014. RMS will use the money to fund new originations of HUD-backed home equity conversion mortgages. Several of the nations largest banks have exited the HECM space the past two years, including Wells Fargo and Bank of America. A handful of nonbanks have moved ...
The purchase mortgage business has been in the tank since the housing crash. Although home buying is on the upswing, will it be enough to replace the refi boom?
The National Association of Federal Credit Unions is urging the Consumer Financial Protection Bureau to take another look at the usefulness of APR disclosures, among other things.