Fannie Mae and Freddie Mac single-family mortgage servicing grew at a relatively stable pace during the fourth quarter of 2016, but the nonbank share was up significantly. A new Inside The GSEs analysis and ranking shows that the two guaranteed $4.496 trillion of single-family mortgage-backed securities outstanding at the end of December. That was up 1.0 percent from the third quarter and 0.8 percent higher than at the end of 2015. But nonbanks held the mortgage-servicing rights on some $1.476 trillion of GSE single-family MBS, up 4.7 percent from the end of the third quarter. Their GSE servicing grew a whopping 18.5 percent during 2016, while banks and other depositories managed a small 0.6 percent increase.
The subprime auto lending market is stable and the underwriting is strong, but delinquencies are up, according to credit bureau experts speaking at the American Financial Services Association’s vehicle financing conference. The auto financing industry is coming off another record year of sales, according to Chris Stinebert, president and CEO of AFSA. He added that it’s important for credit reporting agencies to set the record straight on the health of the subprime auto finance market. “The fact is...
Agency mortgage servicers last year transferred some $369.44 billion of mortgage-servicing rights tied to mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae, according to an exclusive new Inside Mortgage Trends analysis. Thanks to an end-of-year surge, bulk MSR transactions accounted for most of the market. During the fourth quarter, some $76.69 billion of servicing changed hands in bulk transfers, a 76.5 percent jump from ... [Includes three data charts]
In another sign that the housing and mortgage markets continue to heal from their catastrophic collapse in 2007, the national foreclosure rate in the U.S. dropped by 30.53 percent in 2016, ending the year at 0.95 percent of active mortgages, according to new data from Black Knight Financial Services. “This marks the most improvement Black Knight has seen in any year on record,” the firm said in its “first look” at December 2016 month-end mortgage performance statistics. Also, the inventory of ...
Some 53 percent of the distressed homeowners seeking housing counseling in the past year were minorities, according to an analysis by the Homeownership Preservation Foundation. The nonprofit HPF operates the Hope Hotline, which offers free foreclosure-prevention counseling. The hotline gained prominence in 2007 as delinquencies and foreclosures started to pile up. While the number of distressed borrowers has declined significantly in recent years, delinquencies on ...
According to the Mayer Brown law firm, “Financial services companies that hoped for immediate regulatory relief when the Trump administration assumed control may have to wait a bit longer…”
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