Ginnie Mae is weighing its options on what to do with $22 billion in servicing rights it yanked away from Taylor Bean & Whitaker (TBW)in the summer of 2009.
"We're waiting to see how the servicing market shapes up for Ginnie Mae servicing rights, but right now the servicing market isn't as robust as we'd like it to be," agency president Ted Tozer said in a recent interview with National Mortgage News.
In the interview, Tozer said Ginnie Mae is happy with the job Bank of America is doing subservicing the loans for the agency.
Some advisors have speculated that BofA would be a likely buyer for the TBW MSRs.
Tozer, though, said the agency is in no rush to sell the MSRs if the price isn't right.
The Florida-based TBW closed its doors in the summer of 2009. Sources close to the matter said the company's bankruptcy trustee and creditors are moving closer to an agreement on how to liquidate its assets.
