What We're Hearing

Residential Mortgage Services of Houston, Texas, is throwing in the towel on warehouse mortgage lending.It expects to close down the division by the end of March, said one company official. "In March, I'm out of here," the official said...

A recent MBA memo discussing its issue paper on GSE (government-sponsored enterprise) activities, says the group met with Fannie Mae and Freddie Mac officials in early November and that representatives of the two, "expressed their views that the issue paper would restrict their current and future business practices."...

Meanwhile, as far as Fannie Mae is concerned, one top lender recently noted that Fannie is buying subprime loans with FICO scores in the 500 range...

Bids are still being considered for the FDIC-controlled Alliance Funding, Orangeburg, N.Y., a subprime wholesaler. The unit likely will be sold in four pieces...

Former Dime Bancorp chairman Richard Parsons will take over as chief executive of media conglomerate AOL Time Warner when current chief executive Gerald Levin retires in May 2002. Mr. Parsons currently serves as co-chief operating officer...

On the move as a correspondent lender is Principal Residential, Des Moines. In the third quarter, Principal had a growth rate of 343%, according to the Quarterly Data Report...