Mortgage Broker Population Dwindling; Loan Buybacks Create Opportunity; FDIC Rebuttal to OneWest Video; GSE Overlays
Posted To: Pipeline Press
I was telling my high school kids that when I was a boy, we observed both Lincoln's and Washington's birthdays. They replied, "That's because the Revolutionary War and Civil War were a lot closer to the time when you were a kid than they are now." And the mortgage banking world mourns the unfortunate loss of Doug Fieger, who co-wrote and sang "My Sharona" with The Knack. One of the repercussions of the Freddie & Fannie announcements last week was the observation that repurchase requests will increase. It is common knowledge that repurchase requests from the large investors negotiate based on individual loan merits, or at times satisfied with market-share agreements – not so with the agencies. The pressure for originators to repurchase loans will grow . The…(read more)