Mortgage Buybacks

Browse articles from all of our Newsletters related to Mortgage Buybacks.

April 17, 2015 - Inside FHA/VA Lending

First Tennessee, DOJ Reach Interim Agreement on FHA-Related Claims

First Horizon National Corp. has announced an agreement in principle with the federal government to settle potential claims related to the underwriting and origination of FHA-insured mortgages during the run-up to the financial crisis. Disclosed in a regulatory filing, the agreement between First Tennessee Bank and the Department of Justice and the Department of Housing and Urban Development covers FHA loans originated from 2006 through 2008, which have gone to claim ...

April 10, 2015 - Inside The GSEs

GSEs Release QC Measures Intended to Reduce Repurchases

Fannie Mae and Freddie Mac released quality control measures to their customers last week that they said will increase transparency and help lenders reduce the amount of problematic loans. Both GSEs are more open to repurchase alternatives and have witnessed a decrease in the number of deficient loans. “Mortgages today are certainly of the highest quality as validated by our QC reviews,” Freddie noted in the letter. Since 2013, the defect rate of a random sampling of performing loans has been 1.4 percent, its lowest, even as the level of QC files increased. Fannie said that the quality of originations has improved, resulting in fewer loans being deemed ineligible by the GSE. As of the end of 2014, 0.33 percent of the single-family loans....

April 10, 2015 - Inside Mortgage Trends

GSEs Stress Ways Lenders Can Prevent Buybacks

Repurchase requests on new production are few and far between, according to the government-sponsored enterprises. Fannie Mae and Freddie Mac both recently issued reviews of their quality control processes, noting that lenders have plenty of tools to help ensure loan quality and avoid buybacks. Carlos Perez, a senior vice president and chief credit officer for single-family business at Fannie, said that as of the end of 2014, 0.33 percent of the single-family ...

April 10, 2015 - Inside Mortgage Trends

Bank Mortgage Repurchases Spiked in 4Q14

Banks and thrifts reported a 10.3 percent increase in mortgage repurchases and indemnifications during the fourth quarter of 2014 compared with the previous quarter, according to an Inside Mortgage Trends analysis of call-report data. Despite the late-year uptick, 2014 still ranked as the most benign for the industry since banks began reporting repurchases in 2008. Institutions repurchased or made indemnifications totaling just $4.25 billion ... [Includes one data chart]


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