Posted To: Pipeline Press
The Texas Mortgage Bankers Association conference is in full swing. Folks tell me that servicing is a big topic in informal hallway discussions. MCT data indicates that lenders are selling 65 percent servicing retained, primarily to the Agencies, 35 percent released. Compare that to last summer’s 95 percent retained, 5 percent released. Yes, MSRs have bounced back. Speaking of the Agencies, lenders will tell you that on their “wish list” is to have a 90-day lead time for negative changes from Fannie & Freddie, whereas we only need about half that for good changes. Good to have regard for lender’s pipelines. Hopefully Sandra Thompson, the acting Director of the FHFA, will have regard for lender’s pipelines and knows uncertainty increases costs, and that expenses…(read more)
Source: Mortgage News Daily
