In a rambling, 6-page letter sent to the GSE’s board, Fairholme Managing Member Bruce Berkowitz claims Fannie Mae’s equity securities are now valued by the market at $36 billion.
“Revenues at some of these firms are going to take a nosedive over the next year or so,” said Anthony Garritano, founder of the Progress in Lending Association, an industry think-tank.
What does the seller of the MSRs think about what's going on with the DFS? A spokesman for the nation's largest lender and servicer told IMFnews: "Wells Fargo has not been a party to any discussions with the New York Department of Financial Services regarding Ocwen."
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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