HUD has been steadily auctioning off nonperforming mortgages the past few months. Sources in the market disclosed to IMFnews who some of the winning bidders are. They include: Credit Suisse, Ellington, Kondaur, PIMCO and Varde.
The civil action entails the alleged taking from WJB of some 5,000 loan files. It should be noted that these aren’t just any LOs – the group in question ranks among the top producers in the nation.
Industry observers who closely follow the GSEs predict that other private-equity firms and hedge funds will continue to buy the preferred and common shares of Fannie and Freddie, believing they can flip the stock for a quick profit or receive a pay-out down the road.
Lobbyists and analysts who track the market are unanimous on one key issue: GSE loan limits. From what we’re told, Watt will shelve any thought of lowering the Fannie Mae/Freddie Mac mortgage limit in 2014.
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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