Fannie Says No to Re-Repurchases; New Appraisal Guidance; Goldman Sachs Servicing Rumor; FHA Loan Limits

Posted To: Pipeline Press

The servicing saga continues today with the story in Financial Times that Goldman Sachs may be open to selling its Litton Loan mortgage-servicing division . Apparently nothing is imminent, but the story once again raises the question about large financial firms owning servicing in light of the approach of Basel III , in addition to the question of whether or not Litton fits in with Goldman's core business. FULL STORY In somewhat related news Interactive Mortgage Advisors , out of Denver, completed the sale of a $1 billion package of bulk servicing rights. Apparently there were two bulk servicing portfolios - one of Fannie loans and the other of Ginnie (FHA/VA). The Fannie Mae servicing portfolio contains $502 million of mostly-performing loans, primarily in North Carolina. The Ginnie pool has...(read more)

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Source: www.mortgagenewsdaily.com