Retail production shops and mortgage brokers managed to sustain origination volumes fairly well in the fourth quarter of 2017, but correspondent platforms had a tougher time of it, according to a new Inside Mortgage Finance ranking and analysis.
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Fannie Mae and Freddie Mac observers are scratching their heads about “minimum return on equity” requirements that the Federal Housing Finance Agency has imposed, somewhat mysteriously, on the two government-sponsored enterprises.
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Flagstar Bancorp agreed Tuesday to buy the mortgage warehouse loan portfolio from Santander Bank. The deal will make Flagstar the fourth largest warehouse loan provider by commitments.
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Over the past 12 months, Stearns Lending has jettisoned its delegated correspondent lending platform and recently sold most of its $23.2 billion servicing portfolio, raising new questions about the company’s direction.
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In a white paper published on PIMCO’s website, four company executives said the conservatorship of the two government-sponsored enterprises has been “immensely successful” and should be a part of the reform solution.
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The first-time homebuyer share of home sales has trended downward in recent years, though not necessarily due to a lack of demand from potential buyers, according to some industry analysts. One of the biggest drags on purchases by first-time homebuyers appears to be a lack of starter homes for sale, according to analysts at Capital Economics.
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A key GOP lawmaker is raising concerns about $353 million in funds slated to be paid by Fannie Mae and Freddie Mac toward affordable housing programs, while a liberal-leaning think tank tries to show that a proposed Senate reform plan would do more for affordable housing than critics say.
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