An economist finds that, when community banks gain access to FHLB advances, competition in local markets increases significantly, with mortgage rates in the market falling by an average of 8 bps.
According to court filings, beginning in 2016, the FHLB-SF developed a proposal for the bank to purchase one of the GSEs. To assist in the process, the bank also engaged the services of McKinsey Consulting.
The slow-motion acquisition of mortgage insurance giant Genworth Financial by real estate and insurance conglomerate China Oceanwide got a significant nudge forward, when the Delaware insurance commissioner last month gave its final approval for the purchase.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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