Investment banking and mortgage executives believe the departures at MRP could mean that the industry’s battle against the use of eminent domain is over and that the strategy is now kaput.
The fast growing nonbank servicer/lender also disclosed a preliminary fourth quarter profit in the range of $101 million to $106 million, a 50 percent jump from the prior period.
Mortgage topics don’t always make the President’s State of the Union speech, but President Obama Tuesday night may touch on the issue of credit availability and whether the government has “gone too far.”
Meanwhile, MountainView Servicing Group is also in the market with a new MSR offering: $224 million of receivables backed by Fannie Mae and Freddie Mac product.
The cost of mortgage compliance was a topic making the rounds at the recent ABS Vegas show in Nevada. Attendees, of course, wanted to know who might pay for all the new added costs.
Who at the GSEs (or at the Federal Housing Finance Agency) was responsible for telling Fannie and Freddie to set aside so much money for loan losses and were those assumptions way off base?
Flagstar, which ranks eighth among all originators according to Inside Mortgage Finance, funded $6.4 billion of home mortgages in 4Q, a 17 percent decline from the prior period.
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.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.