Freddie Mac is phasing out a software package that helps with the servicing of delinquent loans, a move that could help private sector technology vendors.
Loan officer compensation to individual originator employees is included in the calculation of the QM’s 3 percent limit on points and fees but the industry believes this is double counting.
Both Fannie Mae and Freddie Mac held onto their ample shares of mortgage-backed securities with a slight bump during the first quarter of 2013, according to a new Inside The GSEs analysis. The two GSEs issued a combined $355.8 billion in MBS during the first quarter, a 0.9 percent increase from the fourth quarter of 2012. Compared to the first three months of last year, Fannie and Freddie saw a 16.6 percent increase in MBS issuance. Between the two companies, Fannie and Freddie registered an abundant 76.0 percent share of new MBS during the period that ended March 31, 2013, up from 75.8 percent the two companies held during the fourth quarter of 2012 but lower than the 78.0 percent both GSEs held during the first quarter of 2012.
National MI, a new entrant in the private mortgage insurance market, began issuing its first commitments this month, although company officials acknowledge that a lot of the company’s operations are still being put together. In fact, building a new MI from scratch with state-of-the-art technology and no hangover from the housing collapse is one of National MI’s key advantages, officials said. “2013 is...
Fannie Mae is making it easier for small and medium-sized lenders to deliver electronic mortgages to the government-sponsored enterprise. “Currently, lenders are required to obtain a variance to their master agreement in order to deliver electronic mortgage loans (eMortgages) to Fannie Mae,” the GSE said in a recent selling guide announcement. “Fannie Mae would like to expand...
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