Freddie Mac

Browse articles from all of our Newsletters related to Freddie Mac.

October 9, 2015 - Inside The GSEs

GSE Roundup

Freddie Prices Two Multifamily MBS. This week Freddie Mac priced an offering of Structured Pass-Through Certificates backed exclusively by fixed-rate multifamily mortgages with seven- and 10-year terms on seniors housing properties. The company offered approximately $841 million in K Certificates. This is Freddie Mac's third K Certificate offering backed exclusively by seniors housing collateral. Also, this week Freddie announced the pricing of the SB4 offering, a multifamily mortgage-backed securitization backed by small-balance loans underwritten by the GSE and issued by a third-party trust. The company expects to guarantee more than $172 million in SB4 Certificates. Former Fannie Attorney Joins Law Firm. Christopher Bell, a real estate attorney whose experience includes more than...

October 9, 2015 - Inside The GSEs

IG Report Points to Flawed FHFA Oversight in Fannie, Freddie Budget

The Inspector General of the Federal Housing Finance Agency has accused the FHFA of being too lax when it comes to overseeing the budget of Fannie Mae and Freddie Mac and in many instances waiting until the start of the GSEs’ fiscal year to even approve the budget. Inundated with cursory-level analysis and inadequate resources, the IG noted that the FHFA’s budget review and approval process for Fannie and Freddie is seriously flawed. The recently released review was completed in June 2015 and the FHFA for the most part agreed with the IG report and revamped its budget-review process a month later in July 2015. The IG noted that the GSEs often submitted proposed annual operating budgets after...

October 9, 2015 - Inside The GSEs

DBRS: If Structured Right, PACE Loans Can Coexist With GSEs

As the Federal Housing Finance Agency continues to take issue with Property Assessed Clean Energy loans, the program is growing and rating service DBRS said many of FHFA’s concerns about risks can be addressed with proper program design. Earlier this year, FHFA Director Mel Watt said that although the agency is not opposed to energy retrofit programs, they must be structured to ensure protection of the core financing for the home. The issue at stake is that residential PACE assessments threaten to move existing Fannie Mae and Freddie Mac mortgages to a second -lien position, said the FHFA. In the event of a default, PACE assessments would be repaid before...

October 9, 2015 - Inside The GSEs

FHFA Zeroes In On Managing Potential GSE Fraud Scenarios

The Federal Housing Finance Agency is tackling all things fraud related, from prevention to managing and detecting the various types of potential fraud, according to recently issued guidance to Fannie Mae and Freddie Mac. The FHFA warned that mortgage fraud may occur in loans purchased for the GSEs’ own portfolios or for securitization. Fraud can also be committed by a number of external and internal parties and can occur as part of the origination, underwriting, or closing process or in conjunction with the servicing of a loan on behalf of Fannie or Freddie.The GSEs’ boards of directors are responsible for making sure that the GSEs have appropriate policies in place for preventing and detecting fraud, according to the guidance.

October 9, 2015 - Inside The GSEs

Freddie Predicts Robust Multifamily Market in Most Metros

Rental demand coupled with favorable demographic trends in most major markets has Freddie Mac predicting that the multifamily market will remain strong, at least for several more years, according to an outlook report released this week. Despite a large amount of new multifamily units entering the market this year, and a rise in construction permits, Freddie said the sector remains robust. The supply of multifamily properties has reached the highest level of completions in 2015 since the 1980s. Freddie said that demand has kept pace with new supply, calming concerns that growth might start to decelerate. The sector is in its sixth consecutive year of robust growth. Steve Guggenmos, senior director of Freddie’s multifamily investments and research, said...

October 9, 2015 - Inside The GSEs

GSEs Won't Punish for TRID Non-Compliance...Just Yet

Sellers/servicers of Fannie Mae and Freddie Mac will get a reprieve from immediately meeting the technical requirements associated with the Truth in Lending Act Real Estate Settlement Procedures Act Integrated Mortgage Disclosure Rule that took effect Oct. 3. Just a few days after the rule went into effect both GSEs issued guidance intended to reach anyone concerned about quality- control reviews while lenders absorb TRID into their business routines, said Brad German, spokesman for Freddie. The letter noted that in recognition of some seller/ servicers continuing to work toward implementing technical requirements of the rule, the GSEs won’t conduct routine post-purchase loan file reviews for technical compliance. After a transitional period, however, they will consider whether to begin such reviews for technical compliance.

October 9, 2015 - Inside The GSEs

GSEs Introduce Loan Defect Types to Clarify, Reduce Buybacks

Fannie Mae and Freddie Mac released a new policy this week in hopes of providing clarity on correcting loan origination defects and solutions to the mortgage buybacks that have plagued lenders over the years. Based on input from lenders, the GSEs took the next step to lessen loan buyback risk and will now categorize defects in terms of “findings, price-adjusted loans, and significant defects.” Under the new “origination defects and remedies framework,” findings will not require a correction or a remedy from the seller as they are negligible defects that had no effect on whether the loan was acceptable to Fannie or Freddie. Those mortgages with one or more defects that are labeled price-adjusted loans would have been eligible for sale to the GSEs if...

October 9, 2015 - Inside The GSEs

BPC Panelists Tackle GSE Reform, Credit Risk-Sharing Challenges

Reforming Fannie Mae and Freddie Mac is likely not in the cards for this Congress. Speaking at a housing finance forum sponsored by the Bipartisan Policy Center in Washington this week, Sen. Bob Corker, R-TN, said he doesn’t expect any changes over the short term. “It’s going to be a while. It’s not going to happen over the next year and four months,” he said. “Both sides don’t want to address a tough issue.” The Republican from Tennessee added that lawmakers from both sides of the aisle are avoiding the issue. Sen. Mark Warner, D-VA, also speaking at the event, said while there may not be any legislation in the near future, he’s hopeful for some type of incremental movement.

October 9, 2015 - IMFnews

Structured Finance Industry Group Notes Areas of Concern Regarding GSE Single Security

“Greater up-front harmonization of the GSEs’ policies and procedures is not only necessary, but fundamental to the success of the single-security initiative,” according to the Structured Finance Industry Group.

October 9, 2015 - Inside MBS & ABS

SFIG Raises Concerns About Roll-Out of the GSE Single Security, ‘Harmonization’ and MBS Guaranty

Wall Street remains concerned about the level of standardization of Fannie Mae and Freddie Mac operations in a single-security environment where investors would be expected to treat them as completely interchangeable. The Structured Finance Industry Group this week reiterated its concern about the Federal Housing Finance Agency’s plan to avoid “complete alignment” of the two government-sponsored enterprises’ operations. In a May 2015 update on the single security, the FHFA said it would carefully assess business decisions that could lead to different prepayment speeds, but that buy-out and removal policies at the two GSEs are essentially the same. That isn’t...

October 9, 2015 - Inside MBS & ABS

Strong Purchase-Mortgage Market Buoyed Agency MBS Issuance in 3Q15; Seasoned Loans Push September Higher

The mortgage refinance business began losing steam in the third quarter, but purchase-mortgage lending helped sustain agency single-family MBS production during the period, according to a new market analysis and ranking by Inside MBS & ABS. Fannie Mae, Freddie Mac and Ginnie Mae combined to issue $351.70 billion of single-family MBS during the third quarter of 2015, a slight 0.3 percent decline from the previous period. Even with the slowdown, year-to-date agency MBS volume of $976.40 billion had already topped the $929.49 billion in gross issuance for all of last year. The bright spot was...[Includes two data tables]

October 8, 2015 - Inside Mortgage Finance

Inspector General Says FHFA Needs to Do Better Job Overseeing Fannie and Freddie Spending

The Federal Housing Finance Agency has skimped in its oversight of Fannie Mae’s and Freddie Mac’s budgets, in most cases not approving them until well after the start of the government-sponsored enterprises’ fiscal years, according to the Inspector General of the FHFA. The FHFA’s budget review and approval process for Fannie and Freddie is seriously flawed and plagued with cursory-level analysis and inadequate resources, the IG said. The agency generally agreed with the IG report and overhauled its budget-review process in July 2015. The IG noted...

October 8, 2015 - Inside Mortgage Finance

BPC Housing Finance Reform Panelists Want More Upfront GSE Credit Risk-Sharing Deals

While there may be some dispute in the industry regarding front-end versus back-end transactions, it’s clear that Fannie Mae and Freddie Mac credit-risk transfer programs are here to stay and will only intensify, according to Bob Ryan, the Federal Housing Finance Agency’s acting deputy director of the division of conservatorship. “The FHFA and the enterprises are committed to credit risk on a routine basis. It is not a pilot; it’s a routine part of our ongoing activity,” he said during a Bipartisan Policy Center seminar on mortgage finance reform. Ryan re-emphasized...

October 8, 2015 - Inside Mortgage Finance

GSEs Take Next Step to Reduce Buyback Risk By Defining Categories of Defects and Options

Fannie Mae and Freddie Mac this week announced a new “origination defects and remedies framework” designed to give lenders more clarity about underwriting problems that could lead to a repurchase demand. The framework sets three categories of loan defect: findings, price-adjusted loans and significant defects. Findings are negligible defects that had no effect on whether the loan was acceptable to the government-sponsored enterprise. The GSE will not require a price adjustment or other remedy from the lender, though it may request updated data regarding the loan. Price-adjusted loans are...

October 8, 2015 - Inside Mortgage Finance

Fannie/Freddie Business Volume Weakened in 3Q15 Despite Growing Strength in Purchase Mortgages

Fannie Mae and Freddie Mac saw a modest decline in the flow of home loans into their mortgage-backed securities programs during the third quarter of 2015, according to a new analysis and ranking by Inside Mortgage Finance. The two government-sponsored enterprises issued a total of $223.47 billion of single-family MBS during the third quarter, a 3.8 percent decline from the previous quarter. Freddie had a slightly larger downturn (4.1 percent) than Fannie (3.6 percent). Although overall MBS volume was down, lenders delivered...[Includes three data tables]

October 8, 2015 - IMFnews

Short Takes: CFPB Issues Guidance on MSAs / Yes, the Agency Mentions ‘Kickbacks’ / Sen. Corker, Stock Picker, Says ‘Short’ Fannie and Freddie / He was Being Sarcastic! Lighten Up, IU!

Fear and loathing over marketing service agreements heats up. Kickbacks?

October 8, 2015 - IMFnews

GSEs Take Next Step to Reduce Buyback Risk, Set Three Categories of Defects

The new remedies framework includes more transparency about the factors a GSE will weigh in determining whether a defect is significant.

October 8, 2015 - IMFnews

GSE Business Volume Weakened in 3Q, But Purchase Deliveries the Best Since the Conservatorships Started

Although overall MBS volume was down, lenders delivered a healthy $115.16 billion of purchase-money mortgages to the GSEs during the third quarter.

October 7, 2015 - IMFnews

Short Takes: Senators Don’t Expect GSE Reform Anytime Soon / Shooting Down the White House GSE Rumor / What’s With Stonegate’s Stock Price? / Sale or Bust?

When the news broke about Stonegate this past summer, FBR issued a note to its clients saying that, “We expect the company has two options: hire a replacement CEO quickly, or sell the business altogether.”

October 6, 2015 - IMFnews

Short Takes: Vote on TRID ‘Safe Harbor’ Bill Set for Tuesday Night / More on the GSEs’ Spending Problem / More Headaches for New Residential / Good News for Cash-Out Refis, Seniors / Prudential Hires MF Manager

Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.

October 6, 2015 - IMFnews

IG: Thanks to the FHFA, Fannie and Freddie Have a Spending Problem

In his rebuttal to the IG’s findings, FHFA acting deputy director of conservatorships, Bob Ryan, concurs with some of the IG’s recommendations but takes issue with other aspects of the report.

October 5, 2015 - IMFnews

Phoenix in the Market with $3 Billion-Plus of Servicing Rights

On the conventional product, the loans have an average age of 23 months and delinquencies in the 3.0 percent range. Almost 80 percent of the loans are in California.

October 2, 2015 - Inside FHA/VA Lending

GNMA Revises Requirements for Change-of-Business Status Pleas

Ginnie Mae has announced revised rules for issuers seeking approval of changes in their business status due to an adversarial relationship with agencies, mergers, asset transfers or a change in ownership or control. The agency has been receiving many issuer requests and they are getting complicated, according to Ted Tozer, Ginnie Mae president. Issuers must comply with the updated guidance in order to remain an eligible participant in the Ginnie Mae mortgage-backed securities program. The guidance took effect immediately. Previously, issuers were required to notify Ginnie Mae in writing within five days of any material adverse change in their business relationships with Fannie Mae, Freddie Mac, FHA, VA, Rural Development, the Department of Housing and Urban Development’s Office of Public and Indian Housing or any other regulatory agency. Under the revised guidance, the ...

October 2, 2015 - IMFnews

What We’re Hearing: Is It ‘Open Season’ on Mortgage Bankers? / The Coming Storm Over Marketing Service Agreements / Realtors and MSAs? / loanDepot Fights Back / Mortgage Carpetbaggers?

Some have suggested that it’s no wonder that several mortgage company owners – including those who control specialty servicers – are contemplating selling their companies.

October 2, 2015 - Inside MBS & ABS

GSEs Do More Credit Risk-Sharing Deals as Fannie, Freddie Find More Interest From Insurance Sector

Fannie Mae and Freddie Mac continued to tap investor interest in credit-risk transfer transactions over the last week or so, with each company announcing another deal involving more support from various elements in the insurance and reinsurance sectors. Last week, Fannie announced it has completed its latest Credit Insurance Risk Transfer transaction, which shifts credit risk on a pool of loans to a panel of reinsurers. In CIRT-2015-3 which became effective Aug. 1, 2015, Fannie retained...[Includes one data table]

October 2, 2015 - Inside MBS & ABS

Structured Finance Issuance Off Slightly in 3Q15 Despite Modest Gain in September, Steady Agency MBS Volume

New issuance of residential MBS and non-mortgage ABS fell slightly during the third quarter of 2015, but the market remained well ahead of the pace set last year. A new Inside MBS & ABS analysis shows a total of $396.99 billion of MBS and ABS were issued during the third quarter, down 6.1 percent from the previous quarter. That total does not include commercial MBS or multifamily securities issued by Fannie Mae, Freddie Mac and Ginnie Mae. On a year-to-date basis, total MBS and ABS issuance was...[Includes two data tables]

October 2, 2015 - IMFnews

MBS and ABS Issuance Off Slightly in 3Q15, but Nice Gains YoY

On a year-to-date basis, total MBS and ABS issuance was up 37.7 percent from the first nine months of 2014.

October 1, 2015 - Inside Mortgage Finance

Trade Groups Continue to Express Concerns About FHLBank Membership Changes

Industry groups stepped up their pressure on Congress to block a proposed rule that would alter membership requirements in the Federal Home Loan Bank system. The latest letter came this week and was signed by the Mortgage Bankers Association, National Association of Real Estate Investment Trusts, Independent Community Bankers of America and Habitat for Humanity International. The Federal Housing Finance Agency proposed...

October 1, 2015 - Inside Mortgage Finance

Jumpstart GSE Reform Act Reintroduced But Overall Housing Reform at a Standstill

A streamlined version of the “Jumpstart GSE Reform Act,” recently reintroduced in Congress, then placed on hold and reintroduced again, could be considered before the end of the year. The bill, sponsored by Sens. Bob Corker, R-TN, Mark Warner, D-VA, and Elizabeth Warren, D-MA, would bar the Treasury from selling its stock in the two government-sponsored enterprises and prevent increases in Fannie Mae and Freddie Mac guaranty fees to pay for other government spending. An earlier version of the bill that Corker tried to fast-track through the Senate did not include...

October 1, 2015 - Inside Mortgage Finance

2014 HMDA Findings Reveal Larger-Than-Expected Conventional Conforming Market, Smaller GSE Share

Loan origination data for 2014 that were released last week by federal regulators show that the conventional mortgage market was considerably bigger than previously estimated – and that production levels this year are rising. Home Mortgage Disclosure Act data show that lenders covered by the law’s reporting requirements originated $969 billion of conventional purchase and refinance loans last year. About $232 billion of that amount came in loans exceeding the county-level conforming loan limits in effect for Fannie Mae and Freddie Mac last year. The remainder, $737 billion, represents...[Includes two data tables]

October 1, 2015 - IMFnews

Jumpstart GSE Reform Bill Reintroduced but ‘Passable’ Reform at a Standstill

An earlier version of the bill that Corker tried to fast-track through the Senate did not include the prohibition on using g-fees to pay for unrelated government spending.

October 1, 2015 - IMFnews

2014 HMDA Data Revelations: Conventional Market Larger, Deconsolidation Continues

Another noticeable shift from 2013 to last year was the further deconsolidation of originators...

September 30, 2015 - IMFnews

Short Takes: FHFA Not Quite Done with the MI Industry? / Enters the Fix-and-Flip Space / Another Vote to Defang the CFPB / As for the CFPB IG… / MCT Hires Former Nationstar Official

Or as Marc Savitt of the National Association of Independent Housing Professionals put it: “Nothing will pass as long as Obama still has a pen…”

September 30, 2015 - IMFnews

Sen. Warren and Rep. Capuano Stage Protest on NPL Sales to Wall Street Firms

The congressman said the decision to sell thousands of loans at a time at sharp discounts to the highest bidder “continues to enrich Wall Street at the expense of neighborhoods and community-based organizations.”

September 28, 2015 - IMFnews

Short Takes: Trade Groups Try to Exert Pressure on the FHFA / No Word from the Regulator / Ocwen Catches a Ratings Break / MountainView Ready to Assess Whole-Loan Bids

Standard & Poor’s has removed Ocwen Financial form its “CreditWatch” list.

September 28, 2015 - IMFnews

Trade Group Presses Congress to Develop Action Plan on GSE Reform

The CHLA suggests, among other things, that the U.S. Treasury stop sweeping all GSE profits and instead put that money in a capitalization reserve account...

September 25, 2015 - Inside The GSEs

GSE Activity by State: 6M15

Data detailing the volume of GSE mortgages by state.

September 25, 2015 - Inside The GSEs

Freddie Reveals 7th NPL Deal, Offered $4.5 Billion So Far

Freddie Mac has offered $4.517 billion in non-performing loans to date and recently released plans to auction $327 million of deeply delinquent non-performing loans in its portfolio. The NPLs are marketed as two geographically diversified pools with bids due from qualified investors by Oct. 6, 2015. The sale is expected to settle in December 2015. JPMorgan Chase Bank is the servicer of the loans. The day after Freddie began marketing that transaction it announced that it sold roughly $1.2 billion of deeply delinquent agency mortgages serviced by Ocwen Loan Servicing, with servicing expected to be transferred after settlement. That sale was part of Freddie's Standard Pool Offerings and the loans have been delinquent for approximately three and a half years, on average.

September 25, 2015 - Inside The GSEs

Freddie's New Green Rebates Encourage Multifamily Efficiency

As energy efficiency plays a growing role in real estate and mortgage credit, Freddie Mac decided to up the ante in its multifamily business and offer a $5,000 green rebate to borrowers. Qualified borrowers with at least 20 units who voluntarily provide an Energy Star score when submitting their loan documents, are eligible. Freddie said it hopes to encourage energy efficiency and affordability in apartment properties and strengthen the market for green investments. Freddie also said rental housing is home to many of the country’s lower-income households who are struggling with housing costs such as rent and utilities. The Environmental Protection Agency estimates that the average commercial building wastes 30 percent of the energy it consumes, often resulting in higher operating costs.

September 25, 2015 - Inside The GSEs

Enactment of Fannie and Freddie Reform Seen as Unlikely for Now

Don’t expect much movement on legislation to reform the GSEs before the 2016 presidential election. Industry analysts suggest that divisions between Democrats and Republicans along with a housing finance system that is functioning well enough will continue to combine to prevent enactment of GSE reform for some time. At the ABS East conference sponsored by Information Management Network last week in Miami, a variety of industry participants seemed resigned to the fact that Fannie Mae and Freddie Mac will remain under the conservatorship of the Federal Housing Finance Agency for years to come. James Lockhart, vice chairman of WL Ross & Co. and a former director of the FHFA, said the enactment of GSE reform...(Chart, GSE Activity by State)

September 25, 2015 - Inside The GSEs

Trade Groups Argue Against Using Guaranty Fees for Other Funding

About 30 industry trade groups recently called for Congress to refrain from using GSE guaranty fees as a source of funding for highway programs or any other purposes beyond supporting Fannie Mae and Freddie Mac. The letter, addressed to House Speaker John Boehner, R-OH, as well as leaders Nancy Pelosi, D-CA, Mitch McConnell, R-KY, and Harry Reid, D-NV, aims to prevent the government from tapping g-fees to pay for pet projects. G-fees, used by Fannie and Freddie to protect against losses from loans that default, are a “critical risk management tool,” according to the trade groups who say that increasing g-fees for other purposes imposes an unjustified burden on the housing finance system.

September 25, 2015 - Inside The GSEs

Senate Bill to Reverse GSE Salary Raise Passes Unananimously

Fannie Mae and Freddie Mac CEOs may not see a sizable pay hike after the Senate approved by unanimous consent a bill to reverse the raises for the GSE executives. The “Equity in Government Compensation Act” approved last week would suspend the $4 million compensation packages for Fannie’s Tim Mayopoulos and Freddie’s Don Layton that were approved early this year after the Federal Housing Finance Agency said the CEOs could be paid as much as $7.26 million. Their salary would now each be capped at the $600,000 they earned prior to the pay hike. That’s a lot less than many individuals in upper management at the GSEs. “Giving massive taxpayer-funded pay raises to Fannie Mae and Freddie Mac isn’t just out of touch, it’s...

September 25, 2015 - IMFnews

What We’re Hearing: Two Specialty Servicers Up for Grabs? / Dovenmuehle Speaks! / Dovenmuehle’s Secret Sauce: Pricing / At Least One Servicer Doesn’t Have Employees in India / A Potential Government Shutdown and the Implications for Lenders

Are you ready for a government shutdown, one that could screw up the mortgage market? If not now, maybe later in the year...

September 25, 2015 - Inside MBS & ABS

MBS Market Grew Slightly in 2Q15; Banks, Mutual Funds and Foreign Investors Increased Their Holdings

The supply of residential MBS in the market grew tepidly in the second quarter of 2015, but not enough to increase the overall securitization rate for home mortgages. A total of $6.335 trillion of single-family MBS were outstanding at the end of June, a slim 0.1 percent increase from the previous quarter. The supply of MBS has been bouncing slightly higher and lower over the past six quarters, without gaining much traction. With total home mortgage debt outstanding climbing by 0.4 percent during the second quarter, the share of securitized loans fell...[Includes two data tables]

September 25, 2015 - IMFnews

First-Time Homebuyers Slowly Gaining Traction; Strong Growth for Freddie

In August, first-time buyers accounted for 56.9 percent of agency purchase mortgages, up from 54.5 percent a year ago.

September 25, 2015 - IMFnews

MBS Market Grew Ever So Slightly in the Second Quarter

With mortgage debt outstanding climbing by 0.4 percent during 2Q, the share of securitized loans fell to 64 percent at June 30, the lowest level since 2012.

September 24, 2015 - Inside Mortgage Finance

First-Time Homebuyers Slowly Gaining Traction, Freddie Reports Increase

Freddie Mac reported that its first-time homebuyer business is growing and is on target to match its best year in the space since the beginning of the housing crisis. During the first half of 2015, lenders have delivered an average of 17,000 first-time homebuyer mortgages per month to the government-sponsored enterprise. That’s roughly the pace for last year but 25 percent higher than in 2013. Overall, the National Association of Realtors said...[Includes one data table]

September 24, 2015 - Inside Mortgage Finance

GSEs Look to Expand Risk-Sharing Efforts in Terms of Volume, Characteristics and Investors

Both of the government-sponsored enterprises are on track to meet the 2015 risk-sharing goals established by the Federal Housing Finance Agency with a quarter of the year to spare. Officials at Fannie Mae, Freddie Mac and the FHFA said the GSEs will continue to work to expand the risk-sharing efforts, which are popular among many investors in the secondary market. At the ABS East conference produced by Information Management Network last week in Miami, Scott Smith, an associate director of capital policy at the FHFA, said he would like to see continued efforts to broaden the investor base for risk-sharing transactions. More than 160 investors have bought...

September 24, 2015 - Inside Mortgage Finance

HMDA Data Reveal 2014 Origination Volume Stronger Than Previously Estimated, More Applications Denied

Mortgage origination volume was down sharply in 2014, but not by as much as previously thought, according to an Inside Mortgage Finance analysis of Home Mortgage Disclosure Act data released this week by federal regulators. A total of $1.242 trillion of single-family purchase and refinance loans were originated during 2014, the HMDA data reveal. That was down 29.5 percent from the 2013 HMDA total, although purchase-mortgage lending was up slightly in both the government-insured and conventional markets. HMDA first-lien purchase and refi originations came...[Includes one data table]

September 24, 2015 - Inside Mortgage Finance

Increasing Compliance Risk and New Entrants Help Subservicing Market Continue to Grow in 2015

The nation’s subservicing specialists increased their contracts by a modest 4.4 percent on a sequential basis in the second quarter of 2015, a sign that many originators would rather outsource the nitty-gritty chore of loan processing to others instead of doing it in house. Compared to the same period a year earlier, subservicing grew a more impressive 20.5 percent to $1.410 trillion, according to exclusive survey figures compiled by Inside Mortgage Finance. The increasing complexity and compliance cost of servicing make...[Includes one data table]


Which mortgage issue, in particular, keeps your management team up at night? (Check one only.)

TRID (Integrated Disclosures)
Uncertainty regarding "marketing service agreements"
Getting sued by HUD/DOJ for alleged underwriting violations
Declining loan volumes

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