It's Official: Fannie Inked Deal to Buy MSRs From B of A
For several months Fannie Mae has insisted that it's not in the servicing business, but a recent 10-Q filing by the government-owned GSE reveals that it agreed to buy $74 billion of MSRs from Bank of America in the third quarter. No purchase price was disclosed.
MetLife May Kiss Mortgages Goodbye But Stay in Reverses
For a while it looked as though MetLife wanted to be a top player in mortgage banking. But not anymore. Late last week, the insurance conglomerate said it would explore a sale of MetLife Home Loans, Irving, Texas, stressing that it might only sell its forward business.
FHA's Capital Position Still in the Black But Barely
Despite falling house prices and rising claims, the Federal Housing Administration's mortgage insurance fund clung to a slim capital ratio of 0.24% on its book-of-business for the year ending Sept. 30, compared to 0.5% a year ago, according to independent actuarial reports released Tuesday morning.