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.
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...
After seeing what’s transpired at Nationstar, Owen and Walter the pass year, would Dan Gilbert (who owns Quicken Loans) and Stan Middleman (Freedom’s owner) ever ponder going public?...
The flow of refinance mortgages to Fannie Mae and Freddie Mac increased during the fourth quarter, but the two GSEs continued to see declining volume in the Home Affordable Refinance Program. According to figures from the Federal Housing Finance Agency, Fannie and Freddie securitized 432,376 refinance mortgages in the fourth quarter, up 11.1 percent from the previous period. Fannie had the bigger gain, 16.2 percent. But total HARP activity fell 15.3 percent from the third quarter, and for the year it was down 75.9 percent from 2013 levels. The biggest slowdown in HARP were mortgages with loan-to-value ratios exceeding 105 percent. Both GSEs are doing more non-HARP streamlined refi business than in the program set up in 2009 for underwater ... [with two exclusive charts] ...
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