An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Mortgage

Bank of America could pay $6.8 billion to FHFA

Goldman Sachs, Morgan Stanley could pay $1.3 billion each

According to MarketWatch, Bank of America (BAC) could potentially pay $6.8 billion to the Federal Housing Finance Agency, with Goldman Sachs (GS) and Morgan Stanley (MS) paying $1.3 billion each. 

To many bank watchers, that’s a jolt. Betsy Graseck, an analyst at Morgan Stanley, cut her per-share earnings estimates for Bank of America and Goldman after the J.P. Morgan settlement, predicting that they’ll have to set aside more in legal reserves.

What’s more, the prophecies seem to already be materializing. Bank of America disclosed last week that its legal losses could go more than $5.1 billion beyond reserves. In the previous quarter, the estimate had been just $2.8 billion.

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By
3d rendering of a row of luxury townhouses along a street

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