Secondary

• Signs of Life in Wholesale?

  What We're Hearing | February 3

  Wholesale lending is back! OK, not exactly. Citigroup announced its exit from the channel this past week and some trade journals - not knowing their stuff - seemed to think it was the biggest story since the Hindenburg disaster. Wholesale only accounted for 9% of Citi's production.

• BPO Vendor Can Provide Experts in Areas that Include IT

  National Mortgage News | February 3

  Even though the vast majority of its services are as an outsource solution, Bensalem, Pa.-based ISGN also provides contract employees to help meet transitory needs in the mortgage industry, including IT staff.

• Measure to Ban GSE Bonuses Moves Forward in the Senate

  National Mortgage News | February 3

  A Senate bill that would bar members of Congress from trading on confidential information was amended Thursday to include a ban on paying bonuses to executives at Fannie Mae and Freddie Mac.

• Capital Markets Chief at Ally/GMAC Bolts for Fannie Mae

  National Mortgage News | February 3

  It appears that possible salary and bonus caps at the GSEs are not hurting the recruiting efforts of at least Fannie Mae.

• Geithner: GSE Plan Coming This Spring

  National Mortgage News | February 2

  The Obama administration is working toward producing a plan to wind down Fannie Mae and Freddie Mac, according to Treasury secretary Timothy Geithner.

• Homeowners Refi to Lower Payments - Not Cash

  National Mortgage News | February 2

  Cash-out refinancings hit a 26-year low in the fourth quarter as 85% of borrowers maintained the same loan amount or reduced their principal balance after refinancing, according to a new report by Freddie Mac.