With the warehouse lending crisis accelerating mortgage bankers are looking at all their potential options. One advisor to the Mortgage Bankers Association is floating the idea of allowing the 12 regional Federal Home Loan Banks to buy participations in warehouse lines made to non-banks. MBA supposedly has talked to the Federal Housing Finance Agency about the FHLBs and warehouse lending. The GSE regulator, said one official, is aware of the magnitude of the warehouse crisisâ¦
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These originators had the highest combined volume of Federal Housing Administration, Veterans Affairs and U.S. Department of Agriculture mortgages last year.
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Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume.
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The buyer will add around 800,000 loans to its hefty servicing portfolio, while Valon said it will shift away from servicing to focus on technology.
May 7 -
The new law, which will mandate the Bureau of Indian Affairs to approve or deny loan applications within 30 days, passed with wide bipartisan support.
May 7 -
The real estate technology company reduced its workforce and consolidated select vendor relationships. These moves will save the company roughly $2 million.
May 7 -
The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.
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