Among the top five agency MBS issuers in the first quarter, three were nonbanks: Quicken, PennyMac and UWM, according to exclusive figures from Inside Mortgage Finance...
Ditech Financial, the nation’s 10th largest subservicer last time around, disappeared from the ranking because a large chunk of the company’s business, including subservicing assignments, was sold to New Residential Investment Corp.
As New Jersey loan broker Brian Benjamin put it, “Most lenders I see now want a paystub within 30 days of closing and a verbal VOE [verification of employment] within five days of closing.”
Those top GSE volume states also accounted for $1.776 trillion of GSE single-family loans outstanding at the end of last year, 37.4% of the total market.
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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