Browse articles from all of our Newsletters related to Mortgage Buybacks.
December 6, 2013 - Inside Mortgage Trends
Mortgage banking income fell sharply in the third quarter and the compliance outlook remained murky, but banks reported a huge improvement in loan buybacks, according to a new Inside Mortgage Trends analysis of call-report data. Banks and thrifts repurchased or provided other indemnification totaling $1.998 billion during the third quarter, the lowest quarterly amount for the industry in five years. Banks first began reporting repurchase data in their call reports ... [Includes one data chart]
December 6, 2013 - Inside The GSEs
Freddie Mac this week racked up another settlement in the GSEs recent ongoing series of mortgage buyback deals when Bank of America announced it will pay $404 million to settle repurchase obligations tied to loans sold between 2000 and 2009. The payment also compensates Freddie for certain past losses and potential future losses relating to denials, rescissions and cancellations of mortgage insurance, the GSE said. The amount is less $13 million of repurchases already made.
December 6, 2013 - Inside MBS & ABS
The Financial Accounting Standards Board has begun meeting with various industry groups to get a clearer sense of where it needs to go to develop the most appropriate accounting treatment for to-be-announced transactions. Last Friday, FASB met with both the Mortgage Bankers Association and the Securities Industry and Financial Markets Association to vet some of the boards tentative decisions on its project for accounting for repos, dollar rolls and TBA transactions, and the likely effect those decisions could have. Meetings with other groups have taken place...
November 22, 2013 - Inside The GSEs
So far this year, Fannie Mae and Freddie Mac have resolved some $30.99 billion of buyback demands through a combination of loan repurchases and indemnifications for the GSEs losses, nearly double the $15.66 billion in resolutions recorded during the first nine months of 2012, according to an analysis by Inside Mortgage Trends, an affiliated publication. The figures refer to the unpaid principal balance of loans subject to a repurchase demand, not the actual payment by the lender. Fannie and Freddie reported a combined $3.53 billion of mortgage repurchases and other buyback resolutions during the third quarter of 2013, the lowest quarterly amount in three years.
November 8, 2013 - Inside Mortgage Trends
Fannie Mae and Freddie Mac this week reported a combined $3.53 billion of mortgage repurchases and other buyback resolutions during the third quarter of 2013, the lowest quarterly amount in three years, according to a new analysis by Inside Mortgage Trends. Buyback resolutions declined by 28.2 percent from the second quarter, even as the government-sponsored enterprises wrapped up large-scale settlements with a handful of their largest sellers. Fannie and Freddie so far this year ... [Includes one data chart]
November 8, 2013 - Inside The GSEs
Despite this years implementation of a new Fannie Mae and Freddie Mac representations-and-warranties framework that promises repurchase relief with a three-year sunset on liability, the GSEs still hold all the cards and a very big stick when it comes to lenders managing their buyback risks, according to an expert during an exclusive Inside Mortgage Finance webinar this week. Jonathan Jaffe, a partner at the law firm of K&L Gates, told webinar participants that Fannies and Freddies hyper-aggressive enforcement of their repurchase options and frequently updated rules creates a near constant state of uncertainty for lenders who have been made all too aware that too much buyback resistance could result in them being on the wrong end of a nuclear exchange.
November 7, 2013 - Inside Mortgage Finance
Despite this years implementation of a new Fannie Mae/Freddie Mac representations and warranties framework that offers some repurchase relief three years after a loan is sold, officials from the two government-sponsored enterprises agree that the best way to beat a buyback request is to focus on quality control. Participants during an Inside Mortgage Finance webinar this week said the new reps and warranties policy has brought greatly increased scrutiny of new mortgages guaranteed by Fannie and Freddie. Quality in the loan-manufacturing process is...
- GSE Seller Profile: 3Q13
- GSE Repurchase Activity First Half 2013
- Top Mortgage Players: 2Q13
- Mortgage Profitability Report: 2Q13
- GSE Market Profile: FY12
- GSE Private Mortgage Insurance Profile
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