Lenders Preparing for Fed’s Exit; Foreclosure Ban in Process?; FDIC Banking Profiles and CRA Requirements; More GFE
February 26, 2010 – 5:59 amPosted To: Pipeline Press
"Talk is cheap, because supply always exceeds demand". For the week that just ended for the Fed, their MBS purchases totaled $17.6 billion, and they sold $6.6 billion, netting out that magical $11 billion weekly total. They are right on target to end this in about a month. After March 31st, the program ceases. People will still buy homes, mortgages will continue to be originated, but will some of the dire production predictions come true? Everyone in the business is hoping not, but the large investors would prefer not to wait to find out. Big investors have cut profit margins and prices, resulting in some very good (relatively speaking) mortgage rates for borrowers. Investors, account executives, production managers may be already worried that they won't hit their numbers for…(read more)