The former Freddie executive said eliminating mortgage servicing rights, or transferring them to the GSEs, would eliminate the need for nonbank mortgage servicers to make servicing advances on delinquent loans.
Nonbank originations in the primary market appear to be on the upswing with just over three months to go in the year. That’s good news for warehouse providers, but another financier is departing. (Includes data table.)
The first quarter revealed slippage in warehouse financing and that Flagstar, a longtime player in the space, was pulling the plug. Still, there was a hint of good news: More nonbank originators are operating at break-even or better.
When nonbanks suffer in the origination game, so do their bankers. According to the latest analysis from Inside Mortgage Finance, warehouse commitments totaled $96.0 billion at yearend. (Includes data table.)
Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.
RSS