Of course, the whole point is moot though, isn’t it? Fannie and Freddie continue to be wards of the federal government. If they fail to meet a capital test, what’s the worst Uncle Sam can do? Put them in conservatorship? They’re already there...
In a similar move, FHA is developing a modern, single-technology platform suitable to the emerging digital and paperless mortgage environment. The system will provide lenders with a single port to conduct business from applications to claims, including the ability to track requests throughout the life cycle of the loan, said FHA Commissioner Brian Montgomery.
Better.com’s other major backer is Citigroup. Better recently hired industry veteran William Buell to head the nonbank’s B2B platform. Buell has a deep resume, including stints at Bank of America, JPMorgan Chase and FirstKey…
At a recent American Bankers Association conference, Cathryn Abshier, fair lending officer and vice president of compliance at Mr. Cooper, said the nation’s third-largest servicer is seeing state regulators focus on disparate impact in their fair lending examinations.
The spate of M&A activity in the sector suggests that more deals could be in the works, given the attractive nature of being a subservicer compared to owning the servicing strip outright…
As part of Ditech’s dissolution, the company also disclosed that its reverse lending division – Reverse Mortgage Solutions – will be sold via a stock and asset deal to Mortgage Assets Management LLC for an undisclosed sum.
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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