Changes at Kinecta, Freedom, & Chase; Student Debt Developments; MBS Supply Estimates

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Posted To: Pipeline Press

We’re off to a running start on a new quarter, with many mortgage bankers reporting great March’s and ample pipelines ready for funding in April. But there are some big changes in the lender landscape with news coming from Kinecta Federal Credit Union, Chase, and Freedom. And overseas, perhaps to the surprise of no one, China may have a subprime housing problem as the government tries to absorb a glut of vacant housing. This has resulted in a surge of risky subprime-like lending, in particular the practice of borrowing money to make down payments . Isn’t the first, won’t be the last. Kinecta Federal Credit Union announced that it will exit the Third Party Mortgage Origination channel and will focus solely on growing core Retail business going forward. “…the Credit Union is no…(read more)

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