Browse articles from all of our Newsletters related to GSE Performance.
November 14, 2014 - Inside The GSEs
Fannie Mae and Freddie Mac reported a combined $6.0 billion in net income for the third quarter of 2014, up from $5.1 billion in the previous quarter. The two GSEs will send to the Treasury $6.8 billion as return on the governments senior preferred stock. That will bring cumulative payments under the GSE conservatorships to $225.5 billion. Fannie and Freddie were given a total of $187.4 billion in government funds in order to stay in business.
November 14, 2014 - Inside The GSEs
After a year of looking, the Federal Housing Finance Agency announced last week it has finally picked a chief executive to run the fledgling Common Securitization Solutions: industry veteran David Applegate, who has a long resume in mortgage banking. Applegate led both GMAC Mortgage and GMAC Bank during a 17-year career at General Motors Acceptance Corp He also worked at mortgage insurer Radian Guaranty. Applegates last job title was president and chief executive officer of Homeward Residential, Dallas, a mortgage-banking firm.
October 31, 2014 - Inside The GSEs
Fannie Mae will pay $170 million to certain investors to settle a consolidated class-action lawsuit that alleges the GSE misrepresented its exposure to subprime loans in the run up to the 2008 mortgage crisis. The lead plaintiffs in the case include the Massachusetts Pension Reserves Investment Management Board and State Boston Retirement Board, which represent a class of common stockholders. The Tennessee Consolidated Retirement System represents a class of preferred stockholders.
October 24, 2014 - Inside FHA Lending
Total originations of FHA forward and home-equity conversion mortgages across the U.S. and in the territories increased from the first to the second quarter, with California accounting for the lions share of all FHA loans produced by state. Production of FHA-insured forwards, including jumbo loans, and HECM loans during the first half of 2014 totaled $68.3 billion, a whopping 49.0 percent drop from volume reported over the same period last year. On the other hand, total originations in the 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands rose 11.5 percent quarter-over-quarter. Originations totaled $36.1 billion in the second quarter. Forward mortgages accounted for $61.1 billion of new FHA-insured loans originated during the first six months while HECMs comprised $7.2 billion of loans produced over ... [ 1 Chart ]
October 17, 2014 - Inside The GSEs
The Federal Housing Finance Agency should not appreciably change guaranty fees charged by Fannie Mae and Freddie Mac, according to a new paper by Moodys Analytics. The paper, A General Theory of G-Fees, by Mark Zandi, chief economist at Moodys Analytics, and Cristian deRitis, a senior director of consumer credit analytics, noted that the two GSEs are currently charging an average g-fee of approximately 60 basis points across all new loans they insure.
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