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The company expects to report net income between $205 million and $220 million, with positive servicing results offset by an originations miss, analysts said.
The Treasury official's comments increased the price of the government-sponsored enterprises' stock even though he indicated there would be no near-term reform.
Fannie, Freddie and Ginnie loan eligibility now rests on AUS findings, with scores kept for pricing. KBW cut UWM's price target to $1.50 as it launches a $400M rights offering.
Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
Merging Fannie Mae and Freddie Mac may not be possible but there is a variation that maintains competition and adds efficiency, according to one shareholder.