A year ago, mortgage servicing brokers were seeing five or fewer bidders on bulk offerings. Today, 10 or more bidders show up, many of which are nonbanks or have owners that are hedge funds or private-equity firms.
Is Ed DeMarco unimpressed with Fannie and Freddie's return to profitability? “…we should keep the recent reports of positive net income in perspective,” he told the audience of the Bipartisan Policy Center this week. “Much of it has been related to one-time adjustments..."
Roughly 4,100 people have registered to attend the annual convention of the Mortgage Bankers Association, which launches Sunday night in Power City USA.
U.S. prosecutors estimate that Fannie Mae and Freddie Mac lost almost $850 million (gross) from Countrywide's "Hustle" program. However, at the time, BofA didn't even own CFC.
A senior executive at Residential Finance Corp. confirmed that the company’s chief financial officer Nick Hahn left the lender/servicer last month, but has since been replaced.