Wilshire Credit Corp., Beaverton, Ore., is talking to Fannie Mae about becoming a "force-placed" servicer for the GSE, according to investment banking sources familiar with the situation. A Fannie Mae official had no comment and Wilshire did not return a telephone call about the matter. A source close to the situation noted that Fannie is talking to IBM - which recently bought Wilshire's operating assets - about a contract of some type but declined to elaborate. IBM bought Wilshire from Bank of America in October. Merrill Lynch, now a part of BoA, bought Wilshire earlier in the decade.
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This was the second acquisition Luminate's mortgage arm has made since the start of 2025. The bank bought NJ Lenders Corp. in April of last year.
August 21 -
The Mortgage Bankers Association lowered its refi expectations by 5% this month, as rising mortgage rates are dampening borrowers' positions.
August 21 -
A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.
August 21 -
A proposed seven-year mandatory selloff rule aimed at institutional investors was a factor in halting momentum for new BTR development, NAHB said.
August 21 -
May's 15,855 actions are the least since September 2025, when Fannie Mae and Freddie Mac had 15,550 loans modified, forborne or otherwise dealt with, FHFA said.
August 21 -
The government-sponsored enterprise oversight chief said his agency is focusing on select fees applied to mortgages that lenders sell to Fannie and Freddie.
August 21










