Browse articles from all of our Newsletters related to Mortgage Buybacks.
April 18, 2014 - Inside The GSEs
A New York state judge last week dismissed with prejudice a $567 million legal action brought by the Federal Housing Finance Agency against Deutsche Bank in 2012 over the banks refusal to repurchase hundreds of millions of residential mortgage-backed securities from Freddie Mac. Judge Eileen Bransten of New Yorks State Supreme Court in Manhattan ruled the FHFAs suit is barred by New Yorks six-year statute of limitations.The FHFA sought to have the bank cover Freddies losses on defective MBS purchased from a $1.4 billion transaction.
April 4, 2014 - Inside Mortgage Trends
Fannie Mae and Freddie Mac at yearend wrapped up most of the massive amount of repurchase demands tied to their pre-2008 books of business, which likely means less business for law firms and companies that help lenders defend buyback demands. But Resolution Portfolio Management & Oversight sees the new buyback era as an opportunity, especially for boutique firms like itself. A lot of our competitors are out of business, said Andrew Henschel, RPMs executive vice president. Their business model was based on volume. Were a boutique. If we dont win, we dont get paid. Indeed, these are trying times for some due-diligence firms. Last fall, Allonhill LLC sold most of its assets to Stewart Lender Services. Then a few months later, Allonhill owner Sue Allon threw what was left of the firm into bankruptcy protection after...
March 28, 2014 - Inside Nonconforming Markets
Bank of America this week agreed to settle lawsuits filed by the Federal Housing Finance Agency regarding non-agency mortgage-backed securities purchased by Fannie Mae and Freddie Mac. Eleven of the 18 non-agency MBS lawsuits filed by the FHFA in 2011 have now been settled and the claims against BofA and its affiliates were by far the largest. BofA said it agreed to make a total of $5.8 billion in payments to Fannie and Freddie as part of the settlement and spend $3.5 billion to ...
March 21, 2014 - Inside The GSEs
Fannie Mae and Freddie Mac in 2013 wrapped up most of the massive amount of repurchase demands they made on legacy loans originated before 2008, but the GSEs are looking more closely at new production and, increasingly, servicer performance. Together, Fannie and Freddie reported a total of $37.87 billion in mortgage repurchases and other settlements of buyback claims, which typically means the lender indemnified the GSE for its losses.
March 21, 2014 - Inside Mortgage Trends
Mortgage lenders repurchased $3.05 billion of home loans from Fannie Mae and Freddie Mac during the fourth quarter of 2013, a 91.0 percent increase from the previous quarter, according to a new Inside Mortgage Trends analysis of repurchase disclosures. As securitizers, the two government-sponsored enterprises are required to file repurchase activity reports with the Securities and Exchange Commission. Fannie and Freddie have ... [Includes one data chart]
March 7, 2014 - Inside Mortgage Trends
Commercial banks and savings institutions made $1.447 billion in mortgage repurchases and other indemnifications during the fourth quarter of 2013, according to a new Inside Mortgage Trends analysis of call-report data. Repurchase totals for the final three months of last year were the lowest quarterly volume since the second quarter of 2008, when the industry made $1.533 billion in mortgage repurchases and indemnifications. The fourth-quarter ... [Includes one data chart]
March 7, 2014 - Inside Mortgage Trends
Fannie Mae and Freddie Mac last year wrapped up most of the massive amount of repurchase demands they made on legacy loans originated before 2008, but the government-sponsored enterprises are looking more closely at new production and, increasingly, servicer performance. Together, Fannie and Freddie reported a total of $37.87 billion in mortgage repurchases and other settlements of buyback claims, which typically means ... [Includes one data chart]
March 7, 2014 - Inside The GSEs
First Horizon National Corp. announced last week it entered into a definitive resolution agreement with Freddie Mac regarding loan repurchase issues. The agreement settles all representation and warranty claims related to loans sold by First Horizon to Freddie Mac from 2000 to 2008. First Horizon CEO Bryan Jordan said in a statement the agreement with the GSE is a big step forward in the companys ongoing efforts to unwind from the mortgage business the firm sold in 2008.
- Top Mortgage Players: 4Q13
- GSE Repurchase Activity Full Year 2013
- GSE Seller Profile: 4Q13
- GSE Private Mortgage Insurance Profile
- Mortgage Profitability Report: 3Q13
- GSE Market Profile: FY12
What do you think is the biggest hurdle to meeting the new QM standards in the CFPBs ability-to-repay rule?
- A debt-to-income (DTI) cap of 43%.
- A 3% cap on points and fees.
- An interest rate cap of the average prime offered rate (APOR) plus 1.5%.
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