At its current pace, by the end of March Mr. Cooper Group will have overtaken Chase Home Finance as the largest GSE server. (Includes two data tables.)
Given the financial and political hurdles that stand in the way of releasing Fannie Mae and Freddie Mac from conservatorship, it may be only a second- or third-tier issue for the Trump administration.
The former chief housing advisor to the Treasury secretary during the first Trump administration will now oversee Freddie’s regulatory and conservatorship affairs operations.
Treasury and FHFA agreed on some guidelines for how the process of getting the GSEs out of conservatorship will work. But they didn’t set that process in motion.
The regulator said in an amicus brief Wednesday that home equity investments can be considered credit and subject to Truth in Lending Act requirements.
“We’re still not at the level of profitability where we should be in home lending, just given as we continue to wind down that servicing book,” said Charlie Scharf, CEO of Wells.
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