Purchase-mortgage activity in the GSE market surged 21.5 percent higher in the third quarter – and Fannie recorded a whopping 35.9 percent jump in such business…
The conventional secondary market caught up with the seasonal surge in home-buying activity during the third quarter, leading to a hefty 17.9 percent jump in the production of Fannie Mae and Freddie Mac mortgage-backed securities. The two government-sponsored enterprises issued $223.61 billion of single-family MBS during the recently completed third quarter, a new Inside Mortgage Finance analysis reveals. Although that was the strongest ... [Includes three data charts]
Mortgage lenders haven’t yet experienced any operating headaches from the Equifax data breach this summer – but the ramifications might come slowly and not be immediately discernable. One nonbank CEO told Inside Mortgage Finance that he’s angry about the breach for two rea-sons: his personal information was stolen and it could cause business problems because warehouse banks, state licensing agencies, investors and housing authorities pull Equifax reports to check on him ...
House lawmakers grilled Federal Housing Finance Agency Director Mel Watt on everything from flood insurance to the qualified-mortgage rule and credit-risk transfers during a hearing this week, but his comments regarding the evaporating capital buffers at Fannie Mae and Freddie Mac suggested that he’s fed up with the lack of action from Congress. Testifying before the House Financial Services Committee, Watt said it would be “especially irresponsible” for the two ...
Nonbanks lack the deposit base banks have to support their investments in mortgage servicing rights, but nonbanks are seeing increased liquidity in terms of MSR financing. The government-sponsored enterprises and Ginnie Mae have also adjusted their acknowledgement agreements to make MSR financers more comfortable in the sector, with further changes likely. “In the nonbank mortgage sector, there is a big need for the financing of the MSR asset,” Vandy Fartaj, chief capital markets ...
Since early July, Fannie Mae and Freddie Mac have seen the share price of their common stock rise roughly 35 percent on the over-the-counter market, turning these two government wards into some of the best short-term investments among all equities. Then again, there appears to be no real reason for the run-up in trading price, though observers speculate that a Republican National Committee resolution issued earlier in the year regarding the two might have something to do with it ...
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