By itself, BofA accounted for 79.3 percent of the $606.3 billion shrinkage in commercial bank MSR portfolios during 2013. Where did all that servicing go to?
One warehouse executive, requesting anonymity, said usage rates for the fourth quarter and the first two months of 2014 “have been very low.” He gave a range of 20 percent to 50 percent.
Well, at least GSE junior preferred shares are holding their own. Also, Five Oaks Investment is approving correspondents for its new jumbo flow-program...
“Cheap is the goal now,” said Chuck Klein, a managing partner at Mortgage Banking Solutions, Austin, TX. “I’m seeing many mortgage-banking firms that want to buy, and they’re looking at either smaller firms or branches.”
Citadel is the most active non-agency, non-prime lender in the U.S. In an interview with IMFnews, company founder and CEO Dan Perl said, “We’ll do $11 million to $12 million, at least" for the month of March.
According to exclusive figures compiled by Inside Mortgage Finance, once Fifth Third departs, there will be just two depositories in the top 10: Flagstar and U.S. Bank.
According to exclusive survey figures compiled by Inside Mortgage Finance, loan brokers accounted for 9.8 percent of all originations in the fourth quarter, a slight improvement from the 9.6 percent market share reading in the third quarter.
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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