Broker, Underwriting, MSR Products; Bank, Lender, and Credit Union News

A capital markets friend relayed this note recently received from an LO. “When do you think stated pick-a-pay products will come back? I have some borrowers with LTVs less than 70% who could really use that. Can you find us a program to offer?” Huh? Pick-a… Pik-a-chu? As over a thousand capital markets folks head to New York this weekend to tax their livers and hear, yet again, another set of titillating GSE reform updates at the MBA Secondary conference that are heard at every conference, there is investor chatter as always, like PHH re-entering the mandatory business. At least one associated group is optimistic. U.S. homebuilders are becoming significantly more confident after a sharp downturn last year. The monthly confidence index of the National Association of Home Builders...(read more)

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