The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

Inside Look: RealTrends 2021 Brokerage Compensation Study

Steve Murray, senior advisor to RealTrends, gives an exclusive first look at the 2021 RealTrends Brokerage Compensation Report.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

How lenders can prepare for increasing regulatory pressures

As compliance becomes an increased focal point for mortgage lenders and investors, staying ahead of state and federal regulations can be the difference between a flourishing business and one mired in fines.

Mortgage

MAXEX becomes direct seller to Fannie Mae, expands loan programs

Company reintroduced jumbo program last month

MAXEX, which last month re-introduced its Jumbo Express loan program, announced today that it is has been approved as a direct seller to Fannie Mae and is expanding its conforming loan program.

MAXEX’s Chairman and CEO Tom Pearce announced the news in a letter to the company’s mortgage lender users, which also emphasized the company’s commitment to its customers during the pandemic.

“MAXEX was founded to address many of the root causes of the 2008 financial crisis, reduce friction and provide consistent liquidity to the mortgage markets,” Pearce said. “While no one expected the deep and rapid economic pain brought on by COVID-19, this crisis has served as an important test of the durability and value of our business model.

“Additionally, we worked with each exchange participant to create new standards around forbearance and early payment defaults that provided much-needed certainty and ensured the consistent flow of liquidity,” Pearce said. “Through it all, MAXEX has not had a single day during this crisis where we did not deliver pricing, accept new locks and honor pipeline commitments.”

The announcement stated that over 140 financial institutions have executed the company’s standardized legal agreement throughout the pandemic, achieving over $8 billion in lock trading volume. Borrowers include Wall Street banks, regional banks, REITs and insurance companies.

Pearce said that looking forward, the company will actively be expanding its loan programs and conforming loan program, as well as working with several of its exchange participants to develop the industry’s first non-agency flow-loan servicing retained offering, expected to launch before the end of this year.

Leave a comment

Most Popular Articles

Treasury removes restrictions on investment properties

The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac.

Sep 14, 2021 By

Latest Articles

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

The United States is grappling with a sharp rise in natural disasters, including wildfires, an active hurricane season, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Sep 17, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please