Freddie CEO Don Layton: "People tell me, ‘Well, let’s have a common AUS that everyone can use.’ My only data point on that is that to have a common system on the backend for the security (UMBS) took seven years and $2 billion to build…”
Thanks to today’s high loan balances, a 50-basis-point drop in rates can do wonders for the refi market, but is bad news for companies that have large servicing portfolios to unload...