Agency MBS

Browse articles from all of our Newsletters related to Agency MBS.

September 30, 2016 - Inside The GSEs

Fannie and Freddie Execs Talk CSP Misperceptions, Alignment

Representatives from Fannie Mae and Freddie Mac discussed misperceptions about the common securitization platform and the goal of aligning policies of the two GSEs at last week’s ABS East conference in Miami. Mark Hanson, Freddie’s senior vice president of securitization, said the importance of the CSP is that it’s “shareable,” during one of the panel sessions.“That opens up a lot of thinking and potential for down the road. But in it being shareable there are some requirements that come with all that,” he said. Hanson added, “A lot of what’s required and a lot of what’s taken so much time in all this is to get alignment between Freddie and Fannie.


September 30, 2016 - Inside The GSEs

Industry Groups Worry About Possible CSP Control Transfer

Several special interest groups are worried that the common securitization platform could become part of a backdoor effort to “piecemeal” GSE reform via possible provisions to transfer CSP control to the private sector. The Community Home Lenders Association, Community Mortgage Lenders of America, and six other trade and civil rights groups penned a letter to Congress last week urging the House to not adopt individual provisions as riders to an FY 2017 funding bill or other “must-pass” legislation that they say could bias the final outcomes of an ultimate comprehensive GSE reform bill. Provisions to transfer control of the CSP to the private sector, and most likely the largest private financial institutions have not...


September 30, 2016 - Inside The GSEs

FHFA Proposes Revised Idemnification Policy

The Federal Housing Finance Agency recently redrafted the proposed indemnification payments rule to make it easier to understand. The proposed rule looks to replace a provision concerning indemnification payments by regulated entities in conservatorship with one that clearly states that the regulation does not apply to such entities. This issue has been brewing since 2008 when the FHFA published an interim final rule on severance agreements and indemnification payments. It then re-proposed the proposed amendment on indemnification payments in 2009. Now the agency said it wants to clarify the fact that it does not consider indemnification payments to be subject to FHFA rules and procedures related to compensation.


September 30, 2016 - Inside The GSEs

Frustrated Judge Orders Treasury, FHFA to Produce Additional Docs

Federal Claims Court Judge Margaret Sweeney appears to be annoyed with the government’s executive privilege pleas and ordered the U.S. Treasury Department and Federal Housing Finance Agency to turn over another heap of documents in a prominent GSE shareholder case. Some see this as a possible legal coup for Fannie Mae and Freddie Mac shareholders in the Fairholme Funds Inc. v. United States, et al. net worth sweep case. The agencies have attempted to keep the documents, containing various memos, emails, presentations and other communications, tucked away under executive privilege. But last week, Sweeney, once again, made it mandatory that the government agencies produce more documents, close to 60 this time, for the plaintiff’s attorneys.


September 30, 2016 - Inside The GSEs

Freddie Launches MI Pilot, Fannie to Follow, PMIs Not Excited

Freddie Mac introduced a front-end credit risk-transfer pilot program this week, but industry observers say it doesn’t include some of the features that many private mortgage insurers and mortgage bankers have been looking for. Guarantee fees will not be lowered because of the deep MI pilot and lowering them is something that the Mortgage Bankers Association has been advocating. Moreover, it’s not the deep-cover primary insurance that private MIs were hoping to write. The GSE is purchasing additional coverage beyond the primary MI contract from a group of four MI firms on 30-year fixed-rate mortgages with loan-to-value ratios of 80 to 95 percent. The coverage is then placed immediately as loans are sold to the GSE.


September 30, 2016 - Inside The GSEs

3Q16 Originations May Translate to Strong Fannie, Freddie Earnings

The third quarter is about to end and most GSE watchers can agree on one thing: Fannie Mae and Freddie Mac should turn in stellar earnings for the period. According to preliminary estimates from Inside The GSEs, all lenders could wind up funding $570 billion in 3Q, compared to $510 billion and $380 billion in 2Q and 1Q, respectively. The higher production figures should translate into a jump in guaranty fee income, which will feed the coffers of the GSEs. The “wild card” in their performance will be the yield on the 10-year Treasury, which was slated to close 3Q16 at 1.57 percent, 9 basis points higher than June 30.


September 30, 2016 - Inside The GSEs

Fannie Initiates First Widespread Use of Trended Credit Data

Fannie Mae’s implementation of its updated loan origination tool, Desktop Underwriter 10.0, this week, represents the first widespread use of trended credit data in the mortgage industry and mortgage bankers are optimistic. It was one of the most anticipated changes in the rollout and was designed to give lenders a better understanding of a potential borrower’s creditworthiness. Instead of relying on traditional credit data, which only indicate the outstanding balance and whether a borrower has been on time or delinquent on accounts, lenders can now base their loan decisions on how borrowers usually pay off their revolving credit lines. “I do think it’s a fairer assessment of a...


September 30, 2016 - Inside The GSEs

GSE 'Patch" and High-Cost Limits Account for 25% of GSE Business

Roughly a quarter of the single-family business that passed through Fannie Mae and Freddie Mac during the first half of 2016 resulted from special treatment bestowed on the GSEs following the housing market collapse. The biggest factor is the so-called GSE patch, which exempts Fannie and Freddie from underwriting restrictions on “qualified mortgages” that are part of the ability-to-repay rule promulgated by the Consumer Financial Protection Bureau. For mortgages to get QM status, the debt-to-income ratio has to be 43 percent or less. However, the CFPB rule waives that requirement for Fannie and Freddie as long as they remain in conservatorship, up to a point.


September 30, 2016 - Inside MBS & ABS

Issuers Say Strong Oversight Plan is Key to Successful Subservicing, Avoiding Liability

Ginnie Mae issuers that use subservicers need to have a proper subservicing oversight plan that encompasses all aspects of their Ginnie servicing portfolio to avoid servicing mishaps and liability. Participants in a recent Ginnie Mae summit in Washington, DC, pooled their collective experiences with subservicers to come up with a general oversight plan touching on every servicing function. These functions include escrow, collections, customer service, notifications, loss mitigation, loan modification, payoff, claims and maintenance. The decision to use a subservicer is...


September 30, 2016 - Inside MBS & ABS

A Year After TRID, the ‘Scratch & Dent’ Market For Such Loans Isn’t Going Away. But It is Slowing

The scratch-and-dent market for residential loans that have TRID-related errors is still alive and (mostly) well, even though originators have had almost a year to adjust to the new disclosure regime introduced by the Consumer Financial Protection Bureau. “This market will never be exhausted,” said Jeff Bode, chairman and CEO of Mid America Mortgage, Addison, TX, one of the most active buyers of mortgages that have errors related to consumer disclosures tied to the Truth in Lending Act and the Real Estate Settlement Procedures Act. Of course, it’s...


September 30, 2016 - Inside MBS & ABS

Money Market Funds Have Increased Holdings of GSE Debt, But Assets Are Shifting Into Government Funds

Money market funds held some $114.16 billion of Fannie Mae and Freddie Mac debt as of the end of August, a 3.0 percent increase from the end of last year, according to a new Inside MBS & ABS analysis of data compiled by the Office of Financial Research. But new regulations have spurred a migration from prime money market funds into government funds, said the OFR, a unit of the U.S. Department of Treasury. The shift from prime to government funds reflects new Securities and Exchange Commission rules aimed at making prime funds less vulnerable to investor runs, OFR analysts explained in a recent research brief. Although the new SEC requirements don’t become mandatory until Oct. 14, 2016, fund managers began...[Includes one data table]


September 30, 2016 - Inside MBS & ABS

A Few Additional Details Revealed About New ‘Minimum’ G-Fee for Fannie and Freddie MBS

Documents obtained by Inside MBS & ABS reveal that Fannie Mae and Freddie Mac were required to charge the same “minimum” guaranty fee for single-family guaranty commitments issued on or after Aug. 1. Both government-sponsored enterprises received identical marching orders for minimum g-fees: 44 basis points for 30-year mortgages and 30 bps for 15-year loans. And, according to copies of emails from the Federal Housing Finance Agency following up on the agency’s initial July 29 directive, an unspecified number of Freddie sellers were paying less than the minimum. The names of these sellers were redacted...[Includes one data table]


September 30, 2016 - IMFnews

Exclusive: Fannie and Freddie Received Marching Orders from the FHFA: Have the Same G-Fees

The directives make clear that the minimum g-fee applies only to swap transactions…


September 29, 2016 - Inside Mortgage Finance

MSR Sellers Eager to Sell their Product but Buyers Interested Only in Issuance, not Servicing

The motivations of buyers and sellers in the mortgage servicing market appear to be at odds, and sellers are hoping for some sort of buyer conversion to light up the market and get more deals. At the Ginnie Mae Summit last week, panelist Michael Ehrlich, senior mortgage specialist at Thomson Reuters, indicated that sellers are itching to see more mortgage servicing rights deals but there are not too many buyers lining up. “The demand from sellers to sell is...


September 29, 2016 - Inside Mortgage Finance

Lender Bucks Traditional Loan Originator Compensation Plan Offerings by Paying LO an Ongoing Portion of Servicing Fee

Atlantic Bay Mortgage Group recently started offering its loan originators a unique option in terms of compensation: a share of the servicing fee. More than 90 percent of loan originator compensation plans are based on an LO’s volume, according to surveys conducted by Stratmor Group. Atlantic Bay’s Progressive Earnings Plan allows LOs to earn an annuity stream of income from mortgages when the lender retains the servicing. Rebecca Chaney, a senior executive vice president of legal affairs at Atlantic Bay, likened...


September 29, 2016 - Inside Mortgage Finance

New, Alternative GSE Credit-Scoring Models Would Get a Boost From Bill Under Consideration in House

Mortgage lenders would be able to extend more credit to traditionally underserved borrowers with greater confidence and sell those loans to Fannie Mae and Freddie Mac, according to proponents of legislation pending on Capitol Hill. H.R. 4211, the “Credit Score Competition Act of 2015,” introduced by Rep. Ed Royce, R-CA, would allow Fannie and Freddie to consider alternative scoring models when determining whether to purchase a residential mortgage. Further, the Federal Housing Finance Agency would be given...


September 29, 2016 - Inside Mortgage Finance

Freddie’s Deep Coverage MI Pilot Underwhelms Mortgage Bankers and Private MIs Looking for Something Else

Freddie Mac’s newly launched front-end credit-risk transfer pilot doesn’t appear to be the expansion of credit-risk transfers that mortgage bankers have been clamoring for. For starters, the deep MI pilot won’t result in lower guarantee fees, which is what the Mortgage Bankers Association has been seeking. And it’s not the deep-cover primary insurance that private MIs would like to write. Under the Freddie Mac Deep MI pilot, the government-sponsored enterprise is purchasing...


September 29, 2016 - Inside Mortgage Finance

The State of Mortgage Servicing Sales: ‘It’s Hand- To-Hand Combat’ on Some Deals, Analyst Says

In general, it hasn’t been a pretty picture this year when it comes to the sale of “bulk” mortgage servicing rights, especially Ginnie Mae receivables. According to figures compiled by affiliate publication Inside Mortgage Trends, bulk MSR transfers (one barometer of sales) increased 20.6 percent in the second quarter compared to the first with roughly $42.9 billion of Fannie Mae, Freddie Mac and Ginnie product changing hands. The third quarter is expected...


September 29, 2016 - Inside Mortgage Finance

To Ease Investor Concerns, VA Mulling Policy Change To Resolve QM-Related Issues in the IRRRL Program

The Department of Veterans Affairs is drafting a new policy to address ongoing confusion about its Interest Rate Reduction Refinance Loan program and ease investor anxiety. The uncertainty among VA lenders stems from the treatment of IRRRLs under the VA’s interim final rule defining what constitutes a “qualified mortgage.” That rule took...


September 29, 2016 - Inside Mortgage Finance

‘Agency Jumbo’ Sector Spurts Ahead of Non-Agency Jumbo Production, Slight Loan Limit Hike Likely

During the second quarter, Fannie Mae, Freddie Mac and the Veterans Affairs home loan guaranty program all saw significant increases in production of “agency jumbo” loans – mortgages with loan amounts exceeding the baseline $417,00 agency loan limit. A new Inside Mortgage Finance analysis reveals that the agencies’ combined jumbo production, including FHA activity, rose 53.3 percent to $36.2 billion during the second quarter. That represented the highest quarterly total since “emergency” high-cost loan limits were established in the aftermath of the financial crisis. The FHA had...[Includes three data tables]


September 28, 2016 - IMFnews

Short Takes: So Long to GSE Plaintiff Perry Capital / Lost Cause? / GSE Common is Cheap / RBS Settles CU MBS Case / Front-end or Back-end?

Closing the fund means that Perry Capital will have to liquidate its holdings – including its positions in Fannie and Freddie...


September 28, 2016 - IMFnews

Redwood CEO: JPMorgan ‘Ahead of Everybody Else’ with Non-Agency MBS Packed with GSE-Eligible Loans

The Redwood CEO said the MBS offer a number of benefits to Chase, including effectively cutting the guaranty fee…


September 27, 2016 - IMFnews

Short Takes: Trump Has Some Choice Words for Janet Yellen / The CFPB Now Carries the Wells Fargo ‘Shield’ / FBR Likes MI Sector / Alt Credit Score Models? / A New CEO for New Castle

Apparently, not everyone is a fan of low rates. Take Donald Trump, for instance...


September 27, 2016 - IMFnews

Freddie Mac Rolls Out Front-End Risk-Sharing Pilot; But No Benefit for Lenders

One trade group source had this to say about the arrangement: “There’s no g-fee break? Then it doesn’t sound like front-end coverage that helps lenders.”


September 27, 2016 - IMFnews

Ditech Readies $300 Million ABS Backed by Servicing Advances

A few days ago, Ditech’s parent company filed an 8-K with the SEC, disclosing delinquency information on its GSE servicing portfolio.


September 26, 2016 - IMFnews

Short Takes: Trump & Hillary Mortgage Corp. / CHLA Weighs In on Front-End Risk-Sharing: No / Will ALTA Break the CFPB’s Website? / Now, Print Your Name and Personal Story Right Here

When it comes to front-end GSE risk sharing deals, just say no?


September 26, 2016 - IMFnews

Fannie Mae Rolls Out DU 10.0 Featuring ‘Trended Credit Data’

Fannie said DU 10.0 also will help borrowers who have multiple financed properties, eliminating certain eligibility overlays…


September 26, 2016 - IMFnews

MBA Task Force Proposes Standardized Loan Mod Program to Replace HAMP

The task force consists of 20 MBA member companies, led by Alex McGillis of Quicken Loans and Erik Schmitt of JPMorgan Chase.


September 23, 2016 - Inside FHA/VA Lending

Liquidity, Net Worth Issues Persist But Nothing Ginnie Can’t Manage

Ginnie Mae continues to wrestle with issuers lacking liquidity and net worth although the number of such cases has gone down significantly, thanks to tight oversight, according to the agency’s top counterparty risk officer. Briefing participants at this year’s Ginnie Mae summit in Washington, DC, Zack Skochko, director of counterparty risk, reported that some issuers are still struggling to comply with Ginnie Mae’s liquidity and net worth requirements.A number of small issuers failed their liquidity and net worth audits this year by not maintaining the minimum $1 million cash or 10 basis points of outstanding Ginnie securities required to participate in the agency’s mortgage-backed securities program. Ginnie Mae also requires issuers to meet a minimum net worth of $2.5 million plus 35 bps of the issuer’s total effective single-family obligations The requirements were designed to ensure that the ...


September 23, 2016 - Inside FHA/VA Lending

Streamline Refi Segment Causing Problems for VA, Ginnie Investors

The Department of Veterans Affairs is working on a change to its existing streamline refinancing policy to address a problem that is giving VA and Ginnie Mae the fits. Under the VA’s qualified-mortgage rule, a VA borrower must wait six months and show six months’ worth of mortgage payments before they can refinance into an IRRRL (Interest Rate Reduction Refinance Loan) and take advantage of the lower rate. However, it seems not all VA lenders are adhering to the rule and that a good number are refinancing veterans into IRRRLs even before the mandatory seasoning period ends for fear interest rates might rise and the borrower might not benefit from the lower rate. “I’ve redone the numbers in 20 different directions on how much a borrower would save if they had to wait two more months and the rate went up a quarter of a point because they lost those two months ...


September 23, 2016 - IMFnews

What We’re Hearing: GSE Loan Limits to Move Higher? / No One Feels Sorry for Wells Fargo / The King of the Cross-Sell is now the King of Pain / Maybe the CFPB Needs a Kick in the… / MBA’s Dave Stevens Doesn’t Expect Peace to Break Out / Skyline Still Hiring

Mortgage lenders, start your engines: the Fannie Mae/Freddie Mac loan limit is set to rise...


September 23, 2016 - Inside MBS & ABS

Shades of 2015 as FOMC Maintains Status Quo, Consensus is a December Raise, Same as Last Year

As the third quarter draws to a close without a single increase in interest rates from the Federal Reserve, 2016 is increasingly looking like 2015, when the Fed said it would raise rates multiple times sometime during the year, only to wait until its very last meeting before finally raising them. Similarly, the U.S. central bank said it would raise rates four times in 2016, and so far, it has yet to raise rates once this year. This week, Fed Chair Janet Yellen explicitly stated she expects a rate increase this year, as do a majority of voting members of the Fed’s Open Market Committee. However, since they decided to take a pass this time around, the Fed only has...


September 23, 2016 - Inside MBS & ABS

Some Issuers Still Failing Ginnie Mae’s Net Worth, Liquidity Requirements Although Cure Rate is High

There have been a number of MBS issuers that have fallen short of Ginnie Mae’s strict liquidity and net worth requirements for all participants, but tighter oversight has cured most, if not of all of the cases, according to Ginnie’s top counterparty risk chief. Speaking this week at the annual Ginnie Mae summit in Washington, DC, Zack Skochko, director of counterparty risk, said several issuers have failed liquidity audits in 2016 by not maintaining the minimum $1 million cash or 10 basis points of outstanding Ginnie securities required to participate in the agency’s MBS program. The agency also requires...


September 23, 2016 - Inside MBS & ABS

Judge Orders Government to Produce More Documents In GSE Shareholder Case, Shows Signs of Annoyance

In a potential legal coup for Fannie Mae and Freddie Mac shareholders, Federal Claims Court Judge Margaret Sweeney ordered the U.S. Treasury Department and Federal Housing Finance Agency to turn over another large batch of documents in relation to the Fairholme Funds Inc. v. United States, et al. net worth sweep case. Sweeney this week forced the government agencies to produce more documents, close to 60 this time, for the plaintiff’s attorneys. The agencies have attempted to keep the various memos, emails, presentations and other communications hidden under executive privilege. Shareholders say...


September 23, 2016 - Inside MBS & ABS

FHFA Has Settled Almost All of Its MBS Lawsuits With One Glaring Exception: RBS/Greenwich Capital

Five years have passed since the Federal Housing Finance Agency filed suit against 18 Wall Street firms and banks for peddling nonprime MBS to Fannie Mae and Freddie Mac in the years leading up to the housing crisis. All of the defendants have settled or lost with one glaring exception: Royal Bank of Scotland. As for when (and if) RBS will settle, that’s a different and complicated matter. The bank is presently owned by the British government, which took control of it during the financial crisis. In other words, any settlement might entail taxpayer money and cause a political controversy in the U.K. And the bill could be...


September 23, 2016 - Inside MBS & ABS

Trade Groups Representing Small/Mid-Sized GSE Seller-Servicers Circle the Wagons Around the CSP

Some small and medium-sized lenders continue to fear that their access to the secondary mortgage market could be hampered if the fledgling common securitization platform of Fannie Mae and Freddie Mac is turned over to the private sector. At this point, the CSP is a joint venture owned by the two government-sponsored enterprises with a long-term future as uncertain as that of the GSEs themselves. But there are rumors that Congress may transfer the CSP to private owners sooner than expected. The vehicle for such a transfer would not be...


September 23, 2016 - Inside MBS & ABS

Other Investors Stepped Up as Federal Reserve Holdings Of Agency MBS Declined Slightly in Second Quarter

Foreign investors, commercial banks and mutual funds all beefed up their holdings of agency MBS during the second quarter of 2016, according to a new Inside MBS & ABS analysis. The Federal Reserve remained the biggest investor in the agency MBS market with $1.744 trillion on its books at the end of June. That accounted for 29.7 percent of the $5.867 trillion of single-family agency MBS outstanding at that time, but it was down 0.5 percent from the end of March. The central bank’s MBS holdings vary slightly in the Fed’s weekly snapshots as pending transactions wait to clear, but its game plan is to hold its portfolio steady by reinvesting principal payments. The single-family agency MBS market grew...[Includes two data tables]


September 23, 2016 - IMFnews

Foreign Investors, Others Beef Up Their Investment in Agency MBS

According to Treasury Department reports, overseas investors held $821.3 billion of Fannie, Freddie and Ginnie MBS at the end of June, a 5.0 percent increase from March.


September 22, 2016 - Inside Mortgage Finance

Freddie’s New Mortgage Pilot Loosens Requirements Based on Demographic Trends of Diverse Communities

Freddie Mac is partnering with two lenders for a mortgage pilot program that will consider a wider range of underwriting criteria, including income from seasonal work, to help promote homeownership in diverse communities. The pilot, based on certain borrower characteristics, was launched with New American Funding, headquartered in Dallas, and Las Vegas-based Alterra Home Loans. It was announced this week during the national convention of the National Association of Hispanic Real Estate Professionals. The NAHREP said the narrow definitions of creditworthiness make it especially difficult for minority and first-time borrowers to qualify for and obtain a mortgage. The two nonbank lenders, which specialize in serving the Hispanic community and low-income borrowers, will build...


September 22, 2016 - Inside Mortgage Finance

Closings of Purchase Mortgages Increasingly Delayed As Strong Volume Mixes with Shortage of Appraisers

An increasing share of purchase mortgages have missed their scheduled closing dates in recent months, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Many of the delays are tied to a shortage of appraisers as home sale activity increased during the spring and summer. Just before the start of the spring home-buying season, the on-time share of closings was at high levels for mortgage-financed purchases. Some 76.6 percent of purchases in April with a low downpayment mortgage securitized by Fannie Mae and Freddie Mac closed on time, based on a three-month moving average. The on-time closing share has declined...


September 22, 2016 - Inside Mortgage Finance

Booming MBS Issuance and Uptick in Interest Rates May Mean Stellar 3Q Earnings for Fannie and Freddie

Thanks to booming originations the past few months – which should translate into higher guaranty fee income – Fannie Mae and Freddie Mac are likely to post their strongest profits of the year in the third quarter, according to interviews conducted by Inside Mortgage Finance this week. But it’s not just higher loan production that should allow profits to soar – it’s the fact that the yield on the 10-year Treasury now stands at 1.69 percent, 21 basis points higher than June 30. The 10-year rate is...


September 22, 2016 - IMFnews

Short Takes: Don v. Hillary. Bring the Popcorn / The Future of Fannie and Freddie? / How to Promote Homeownership / JPM Finishes the Mortgage Test Early

Meanwhile, if you want to know where Clinton and Trump stand on the issue of homeownership in America, you can review their respective party platforms...


September 22, 2016 - Inside Mortgage Finance

Liquidity, Credit Access, Regulation Remain As Chief Concerns As Ginnie Mae Stakeholders Meet to Discuss Market’s Future

With liquidity and an uncertain regulatory environment dominating this year’s Ginnie Mae summit in Washington, DC, top agency officials called on stakeholders and other market participants to stand up to the challenges posed by a rapidly evolving Ginnie marketplace. Chief among those challenges is the growing domination of the Ginnie market by independent mortgage bankers, who now account for 80 percent of the agency’s monthly issuance volume. Ginnie President Ted Tozer reiterated his concerns raised last year about the increasing number of nonbanks in the agency mortgage-backed securities market with very little experience and liquidity. In his opening remarks, Tozer acknowledged...


September 22, 2016 - Inside Mortgage Finance

Servicing Business Continued Shifting Toward Nonbanks In 2Q16, and It’s Becoming Somewhat Less Top-Heavy

Nonbank loan administrators expanded their share of the mortgage servicing market during the second quarter, mostly capturing agency business abandoned by large banks, according to a new ranking and analysis by Inside Mortgage Finance. Commercial banks, savings institutions and credit unions reported a combined single-family servicing portfolio of $6.930 trillion as of the end of June, according to call reports. That was down 0.5 percent from the previous quarter despite the fact that the total depository portfolio holdings of unsecuritized mortgages increased 1.7 percent during that period. But bank, thrift and credit union loan servicing for others – typically loans held in mortgage-backed securities trusts – fell...[Includes two data tables]


September 21, 2016 - IMFnews

Short Takes: Hillary to Turn GSEs Into Public ‘Utilities’? / Don, Low Rates are Good / How Far Will the OCC Go? / A Lack of Ethics was the Problem / Bestborn Hires Three

So, what’s wrong with banks and financial service companies offering sales quotas? Nothing at all, if...


September 21, 2016 - IMFnews

Judge Orders Govt. to Produce More GSE-Related Docs, Shows Signs of Frustration

Margaret Sweeny, the judge presiding over the case, is growing increasingly frustrated with the government’s attempt to keep documents out of the public domain


September 21, 2016 - IMFnews

Freddie Mac Predicts a 3Q16 Production Boom of $595 Billion

Freddie expects originations to hit $2.0 trillion this year, a 14.3 percent sequential improvement…


September 20, 2016 - IMFnews

MountainView, Prestwick Roll Out New MSR Auctions

As rates increase, more deals are hitting the market...


September 20, 2016 - IMFnews

Mortgage Trade Groups Fear an 'October Surprise' on the GSE CSP

“We’re extremely concerned the CSP would be transferred to a nonprofit or a corporation where the board members include executives from JPMorgan Chase or GE Capital,” CMLA's Corso said.


September 19, 2016 - IMFnews

Phoenix Flow Deal Could Yield $3 Billion in Product

The identity of the seller was not revealed in the offering circular except to say the company is “well capitalized.”


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