“Mortgage originators are looking at record earnings for the first quarter,” said Chuck Klein, managing director of Mortgage Banking Solutions, Austin, TX, a consulting firm engaged in warehouse reviews and M&A activity.
Important lessons learned this week: What goes up, must come down; mortgage rates don't always track the 10-year Treasury; stock speculation (Fannie/Freddie) is not for the faint of heart...
Ocwen is losing a big subservicing contract with REIT New Residential but isn't worried about the development because the contract was unprofitable in the fourth quarter...
Net income at Mr. Cooper was aided in a major way by a $285 million recovery tied to deferred tax assets. Meanwhile, on the origination front, the company funded $12.6 billion in product during 4Q19, up 5.8% from 3Q19.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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