As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.
Radian has already paid $632 million to cover loss claims on the Freddie Mac loans through two different payments. It also had set aside $205 million in a collateral account to cover loss mitigation activity.
Many mortgage firms are hoping that a huge surge in purchase-money deals will compensate greatly for the declining refi market and that layoffs at their shops will be avoided.
Warehouse lending executives say they are seeing their nonbank clients earn less money this summer, but noted that profits are still strong by historical levels.
Paul Rozo, CEO of Paramount Residential Mortgage Group, said his company’s application volume is down roughly 20 percent since rates jumped a few months back, but some of his competitors are seeing declines of up to 50 percent.
FHFA has been analyzing approaches for reducing Fannie Mae and Freddie Mac loan limits across the country, "and any such change would be announced with adequate advance notice for implementation on January 1, 2014" the regulator said.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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