UWM has rolled out an ambitious new program to fund a ton of conventional FRMs at 2.5%. Meanwhile, Fannie/Freddie borrowers have a new COVID-19 payment deferral option.
The A-paper M&A market is in the doldrums. The reason: lenders are making money hand-over-fist and company owners are hanging on for one last shot at the refi rodeo.
Low interest rates are great for lenders but servicers are having a tough time of it, especially shops looking to unload product. One dealmaker is advising clients to sell MSRs now before they “vaporize.”
In a plan that began at least as far back as 2016, the FHLBanks actively considered buying one of the government-sponsored enterprises. Even senior staff at Treasury and FHFA were involved.
If billionaire Mike Bloomberg starts looking like a front-runner in the 2020 presidential elections, putting out stock offerings on Fannie Mae and Freddie Mac could prove difficult.
The future looks particularly bright these days for non-qualified-mortgage shops looking to sell or go public. One lender that can take down the for-sale sign is Citadel Servicing Corp.
Loan applications took a dive last week but for the most part lenders remain optimistic about the months ahead. Meanwhile, a fintech lender plans to buy a bank, an industry first.