Secondary

The hurricane will slow secondary market access as lenders wrap up their last mortgage deals of the month.

FCI is the nation’s largest specialty servicer of private money loans, much of it backed by real estate.

When the winning bid for Residential Capital Corp. was unveiled, there was palatable fear among ResCap’s servicing employees that their jobs might be at stake because Ocwen is well known for housing most of its servicing workers in India and Ecuador.

More depositories -- especially community banks -- are opting to sell their 10- and 15-year mortgages rather than keeping them in portfolio.

It appears that the days of the U.S. Treasury Department doling out money to Fannie Mae and Freddie Mac are just about over, according to a new report from the Federal Housing Finance Agency.

Even though it still has some regulatory hurdles to clear, interest in jumbo lending has bumped up a notch.

Now that Residential Capital Corp. has auctioned off its $374 billion of servicing contracts, it’s Ally Bank’s turn to unload its MSRs.

A little over a year ago Bank of America sold $74 billion of mortgage servicing rights to Fannie Mae.

Residential Capital Corp. said it approved a $1.5 billion bid by insurance conglomerate Berkshire Hathaway to buy roughly 47,000 whole loans from the bankrupt mortgage company.

Freddie Mac acquired $39 billion of mortgages from its seller/servicers in September, a 5% decline from the month prior.