Browse articles from all of our Newsletters related to Mortgage Buybacks.
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.
March 6, 2014 - Inside Mortgage Finance
The Obama administration is asking Congress for authority to charge FHA lenders an administrative fee to help pay for improvements to the FHA quality assurance program. FHA wants to build a new quality assurance framework that will provide lenders more clarity about the agencys expectations regarding the loan production process, said FHA Commissioner Carol Galante during a media briefing on provisions in the administrations fiscal 2015 budget proposal that affect the Department of Housing and Urban Development. The idea is...
February 20, 2014 - Inside Mortgage Finance
The Federal Housing Finance Agencys lax attention to Fannie Maes and Freddie Macs handling of aged repurchase demands has resulted in uncollected late fees charged to lenders, according to a new audit by the agencys Inspector General. The FHFA issued a contract harmonization directive in January 2012 calling for the two government-sponsored enterprises to develop consistent timelines and collection standards for fees and penalties and additional types of penalties and remedies. During contract harmonization discussions, the report noted...
February 14, 2014 - Inside MBS & ABS
Issuers of non-agency MBS and agency mortgage sellers have addressed most of the legacy representation and warranty issues that have bedeviled the market for the past few years, according to industry analysts. However, repurchase and buyback issues havent been completely resolved as investors and regulators make last grasps at recoveries. Analysts at Compass Point Analytics & Trading estimated that the total losses incurred for rep-and-warrant claims from Fannie Mae, Freddie Mac, the Federal Housing Finance Agency, the FHA and non-agency MBS investors by publicly traded U.S. originators still in existence will total $89.0 billion. The analysts said lenders have charged off or reserved $88.0 billion for such losses. Compass Point said...
- GSE Seller Profile: 4Q13
- Top Mortgage Players: 3Q13
- GSE Repurchase Activity First Half 2013
- Mortgage Profitability Report: 3Q13
- GSE Market Profile: FY12
- GSE Private Mortgage Insurance Profile
What is your mortgage servicing rights strategy for the year?
- We plan to originate and keep all of our MSRs.
- We sell all our MSRs "servicing released" for cash right away.
- We have a strategy of selling some of our MSRs, but only when we need to.
- None of these describes our 2014 strategy.
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