Some banks have already been doing loan closings themselves...

Loan modification tactics varied based on whether a mortgage was serviced for Fannie/Freddie or was non-agency in nature.

Few lenders are counting on a reduction in the current “ongoing” GSE fee, which increased from 13 basis points in 2009 to 40 bps in 2013.

The selling depository – which MVSG did not name – prefers to retain servicing, but will consider an outright sale.

Mortgage companies repurchased or provided indemnification to Fannie and Freddie on some $4.046 billion of mortgages during 2014.

Freddie Mac is offering another bulk sale of delinquent loans but is not releasing the details just yet. Thomas Fitzgerald, company spokesman, confirmed on Monday that there are nonperforming loans for sale, making this Freddie’s second offering this year so far. “We are sharing details about the sale solely with prospective bidders,” he said, adding that Freddie anticipates on providing more specifics on the results after the auction. Fitzgerald did confirm that the loans in the transaction are “deeply delinquent,” at least two years old, and said “the sales process is a round-one competitive auction.” Bloomberg reported that the three pools amount to $1 billion in nonperforming loans...

The Federal Finance Housing Agency needs to be vigilant in its continued oversight in its management of Fannie Mae and Freddie Mac, according a report from the Office of the Inspector General. Because the FHFA’s actions aren’t subject to judicial review, the OIG said its oversight of the FHFA conservatorship actions and processes “is critical to safeguard taxpayer dollars and ensure that the FHFA is fulfilling its statutory duties.” In the new white paper, the OIG said Congress vested the FHFA with “sweeping powers” as conservator to potentially control every decision the enterprises make.In 2014 alone, the FHFA flexed its muscle to take more than 750 conservatorship “actions” against Fannie and Freddie.

A recent white paper by the Federal Housing Finance Agency Office of the Inspector General highlights the precariousness of GSE profitability. The IG questions whether Fannie Mae and Freddie Mac has the muscle to withstand adverse market conditions or other changes and uncertainties that could lead to additional losses.“The enterprises’ conditions have stabilized and market conditions have improved since 2008. They returned to profitability in 2012; however, the level of earnings they experienced in 2013 and 2014 is not sustainable over the long term,” the paper said. Record-breaking profits of a combined $132.6 billion were reported in 2013 for Fannie Mae and Freddie Mac. That number dropped significantly the following year to $21.9 billion.

Creditworthy buyers are being constrained by dated scoring systems, according to a study released this week by VantageScore Solutions, which says there are benefits to Fannie Mae and Freddie Mac, as well as consumers, if a new model is adopted. The enterprises could increase their revenue while expanding access to mortgages to a more diverse group of consumers. The credit reporting company has been working to get Fannie and Freddie to embrace a new credit reporting system for years now. Its new report comes on the heels of the Federal Housing Finance Agency comments in its 2015 scorecard directing the GSEs to look into potential alternative forms of credit scoring.