Coupled with a recently announced Freddie Mac MSR sale to Nationstar ($9.8 billion), Ocwen estimated the sale of GSE receivables will generate $550 million in gross proceeds.
One investor, commenting on the lack of information regarding 4Q results, told IMFnews: “I think the attorneys are going to make them disclose a lot of stuff that they have been brushing under the rug..."
At Dec. 31, depositories held $964.2 billion of pass-through securities issued by Fannie Mae, Freddie Mac and Ginnie Mae, a gain of 1.3 percent from the third quarter.
Commercial banks and thrifts added $12.2 billion of agency single-family MBS to their investment portfolios during the fourth quarter of 2014, according to a new Inside MBS & ABS ranking and analysis of call-report data. Banks and thrifts held $1.539 trillion of MBS on their books at the end of last year, a slight 0.3 percent increase from the third quarter. Bank/thrift holdings were up 2.2 percent from the end of 2013. Growth in agency mortgage securities was...[Includes two data charts]
Federal Reserve Chair Janet Yellen indicated this week that the central bank ultimately plans on holding few, if any, mortgage-related securities on its balance sheet. It seems unlikely there will be much in the way of actual sales of agency MBS by the Fed, which leaves run-off as the method of choice to drain the central bank’s portfolio. Delivering her semi-annual Humphrey-Hawkins testimony this week on Capitol Hill, the Fed chief said the FOMC intends to adjust its monetary policy during its normalization process mostly by changing its target range for the federal funds rate and not by actively managing its balance sheet. “The primary means of raising the federal funds rate will be to increase the rate of interest paid on excess reserves,” Yellen said. She also noted...
Although the Federal Housing Finance Agency has yet to tip its hand on where it might be headed regarding guaranty fees, most of the industry is betting on no change at all – or possibly a slight reduction, according to interviews conducted by Inside MBS & ABS over the past two weeks. Moreover, Fannie Mae and Freddie Mac themselves are playing a key role in the decision-making process, at least that’s what Freddie CEO Donald Layton said recently. “Guaranty fees are...
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