One question we occasionally hear is this one: If the GOP this fall gains control of the Senate can’t they just push through a GSE reform bill and hope to override a presidential veto, if there is one?
CitiMortgage performed the worst on the assessment of non-agency HAMP activity for the second quarter of 2014, with the Treasury claiming that the servicer needs to make substantial improvements.
MBA's Gross noted that the cost of changing external auditors is “significant,” both for large and small seller/servicers, whether they are public or not.
Fannie Mae and Freddie Mac issued $61.1 billion in single-family mortgage-backed securities during the month of August, a 5.5 percent increase from the previous month, according to a new Inside The GSEs analysis. However, MBS issuance through the first eight months of 2014 was down 56.7 percent from the same period a year ago Top-ranked Wells Fargo’s Fannie and Freddie securitization, at $8.2 billion, rose by 3.1 percent on a monthly basis but dropped 70.0 percent year-to-date.
Homeownership among young adults under age 35 has dropped substantially, particularly among prime first-time homebuyers, despite the fact that owning a house has become less costly than renting in recent years, according to a Fannie Mae analysis. Specifically, the government-sponsored enterprise found that the homeownership rate of “prime” first-time homebuyers – defined as educated, married couples in their early 30s with kids and lots of money – fell by 8.6 percent between 2006 and 2012 ...
Banks and thrifts reported an 11.0 percent decline in the volume of mortgage repurchases and indemnifications they made during the second quarter of 2014, compared to the first three months of the year. An Inside Mortgage Trends analysis of call-report data found that bank and thrift repurchases and indemnifications totaled $1.012 billion in the second quarter, the lowest level since the first quarter of 2008. Buyback volume has been ... [Includes one data chart]
Sindeo, a San Francisco-based startup wholesale lender, launched in August with plans to “transform the borrower experience.” “Our goal is to look at every aspect of our business to create a fair, transparent and modern experience for our clients,” Ori Zohar, executive vice president of marketing at Sindeo and one of the nonbank’s founders, told Inside Mortgage Trends.