But not all was rosy: “With anticipated increases in prepayment activity, we saw hits to servicing profitability resulting from mortgage servicing right markdowns and amortization,” said MBA VP of Research Marina Walsh.
From fiscal 2010-2016, FHA sold roughly 111,000 troubled loans to private investors, including nonprofits, through DASP. In addition, GAO found that FHA did not routinely assess outcomes…
The change is part of the agency’s continuing focus on risk management as its book of business continues its historic shift toward nonbank mortgage servicers that have come to dominate its $2.0 trillion-plus portfolio.
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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