Fannie Mae, Freddie Mac and their government overseer are considering adding new features to the common securitization platform in addition to the major components in the initial design, according to officials speaking at the Mortgage Bankers Association Secondary Market Conference in New York this week. A potential addition to the project would include life flow data about the mortgage transaction, said Manoj Singh, associate director in the Federal Housing Finance Agencys Office of Strategic Initiatives. The common securitization platform, or CSP, has been focused on the securitization function, but feedback from the industry has raised the prospect of expanding it to house all the data points that could be needed over the life of the loan, including foreclosure disposition, if it comes to that. Once the government-sponsored enterprises start...
Fannie Mae is set to "give back" $50.6 billion to the U.S. Treasury by June 30, thanks to stellar earnings and accounting treatment of deferred tax assets.
Total primary mortgage insurance coverage provided by private MIs fell 6.5 percent to $50.44 billion in the first quarter, a figure that includes HARP loans.
Roughly 75 percent of bank loan officers cited put-back risk by Fannie Mae and Freddie Mac as an important factor limiting their current ability or willingness to approve home-purchase loans.