IMA is out with a new $1.294 billion package of bulk Ginnie Mae MSRs, plus a monthly “flow” deal that could net a buyer an additional $900 million in Fannie Mae/Freddie Mac and Ginnie rights.
In an email exchange with IMFnews, RFC's Stein confirmed the sale, but declined to provide any details including the size of the MSRs or the purchase price.
For an industry that’s looking at a 30 percent decline in originations, we’re seeing a great deal of SEC 13-d filings by investment funds that are upping their stakes in such players as MGIC, Radian, Ocwen, Walter, EverBank and the like.
The FHFA will show the MI standards to state insurance regulators first, but only if they agree to sign a “non-disclosure” agreement with the FHFA or the government-sponsored enterprises regarding the content they see.
Since Mel Watt was sworn into a five-year term as Federal Housing Finance Agency director on January 6, the former North Carolina Congressman has made no public appearances or policy statements except for canned comments attributed to him in routine FHFA press releases.
One loan officer based in Southern California said he’s seeing bonus offers made to colleagues, but cautioned: “It’s true, but only if you can prove good volume today – not eight months ago.”
Despite the news concerning a possible sale, PHH’s share price on Wednesday was trading up, but not by much. Its price is still more than $1 below its 52-week high of $26.76.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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