At least two young mortgage insurance firms hope to go public by yearend. But how might the market receive these deals with so much uncertainty surrounding the GSEs?
According to one servicing advisor, large banks – including Wells Fargo – have been quietly selling excess servicing rights through private securitizations.
One mortgage recruiter noted that job losses in somewhat rural communities can be a big problem for workers. “Sometimes they’re the largest employer in town and there’s nowhere else to go,” he said.
Previously, speculation has ranged from January 1 to June 30. Mortgage bankers told Inside Mortgage Finance that whatever the FHFA decides on an implementation date, it had better do so soon.
In the third quarter of 2013, Wells Fargo sold a mere $8.4 billion in residential mortgages to Freddie Mac, a 71.3 percent plunge in volume from the second quarter, and a figure that represents just 17 percent of what the nation’s largest lender sold to Fannie Mae.
However, according to figures compiled by Inside Mortgage Finance, the U.S. subsidiary of the Canadian-owned bank doesn’t even rank among the top 30 lenders, at least not yet.
Golf is for slackers. Inside Mortgage Finance knows of at least four veteran mortgage banking executives who, after “retiring,” are looking to reenter the business.