Non-depository mortgage lenders are still starved for warehouse credit, according to Scott Stern, president of the Lenders One cooperative. Visiting with National Mortgage News recently Mr. Stern described the situation as a crisis, adding that "If you lose a warehouse line, there is no place to go but out of business." Lender's One, like the Mortgage Bankers Association, favors allowing Fannie Mae and Freddie Mac to become involved in warehouse financing but both the Federal Reserve and Treasury have yet to weigh in on the issueâ¦
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