Fannie Mae and Freddie Mac produced $73.23 billion of single-family mortgage-backed securities in May, a solid 6.3 percent increase from April, according to a new ranking and analysis by Inside The GSEs.
Originally scheduled to be implemented the weekend of June 25, Fannie Mae announced on Friday that it is delaying the release of Desktop Underwriter Version 10.0 due to concerns that came up during the testing phase.
Open Mortgage announced they have been approved as a seller with Fannie Mae, joining the likes of So-Fi, another marketplace lender which was approved as a Fannie seller/servicer in May.
New home-equity originations on home-equity lines of credit and closed-end second mortgages fell by 6.3 percent from the fourth quarter to an estimated $45.0 billion. However, that was up 18.4 percent from the first quarter of last year.
A language preference question would raise several serious compliance and legal concerns that strongly weigh against including it on the Uniform Residential Loan Application, according to industry trade groups.
Fannie noted that lenders aren’t obligated to self-report any matters related to possible TRID non-compliance except in two limited circumstances where a repurchase demand is an authorized remedy.
Borrowers have been protected from pricing swings on the back-end Connecticut Avenue Securities Structured Agency Credit Risk transactions thus far because guarantee fees on the GSEs’ mortgages are set by the Federal Housing Finance Agency.
Commercial banks and thrifts reported a further decline in their holdings of non-mortgage ABS during the first quarter, according to a new Inside MBS & ABS analysis of call-report data. As of the end of March, banks held a combined $131.96 billion of ABS in their portfolio, including assets intended to be held to maturity as well as those available for sale. That represented a 2.3 percent drop from the end of 2015, and a hefty 15.9 percent decline from a year ago. It was...[Includes two data tables]
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