Although Freddie Mac and Fannie Mae are reviewing recently originated mortgages more closely than they have in the past, the bulk of the whopping $13.21 billion in mortgage repurchases reported by the two government-sponsored enterprises during the first quarter came from loans originated years ago. A new Inside Mortgage Trends analysis of repurchase activity reported by the two GSEs in Securities and Exchange Commission filings shows that 80.0 percent of the buybacks recorded in ... [Includes two data charts]

Short sales have become one of the most widely used lender strategies to reduce losses from distressed residential properties. Ironically, they also have triggered a wave of fraudulent activity. DataQuick, a provider of property information, products and solutions to the mortgage industry, says there are automated strategies and solutions lenders, servicers and investors can use to thwart short-sale fraud. However, one needs to know where to start. Just how bad is short-sale fraud? According to the ...

Mortgage performance has been boosted in recent years by home price appreciation, even with a move toward less borrower-friendly loan modifications. Industry analysts expect that mortgage performance will continue to improve and loan modification activity will decline significantly. National average home prices in the first quarter of 2013 were up by 6.7 percent compared with the first quarter of 2012, according to the Federal Housing Finance Agency’s house price index. During that time ...

The amount of home mortgage debt outstanding continued its post-crisis downward spiral in the early months of 2013, although the agency servicing market grew slightly, according to a new analysis and ranking by Inside Mortgage Finance. The Federal Reserve reported total home mortgage debt outstanding of $9.868 trillion as of the end of March, down 0.6 percent from the previous quarter. Under pressure from falling house prices and the collapse of the non-agency market, the supply of MDO has been in steady decline since peaking at its all-time high of $11.195 trillion at the end of 2007. Single-family servicing associated...[Includes two data charts]

Residential debt outstanding fell slightly in the first quarter, but the GSE/FHA share of the market continued to grow.

With rates rising and liquidity increasing, more mortgage servicing portfolios are hitting the auction market.

When rates rise, loan officers begin to bite their nails, unless they are heavily reliant on purchase-money loans.

The Corker-Warner GSE bill could see the light of day next Tuesday. Meanwhile, HLSS is selling more shares to the public.

Fannie Mae’s “bifurcated” mortgage program that allows lenders to get a better price for selling their mortgage servicing rights while retaining representations and warranties tied to origination and sale to the government-sponsored enterprise has been gathering momentum over the past six months. According to servicing advisors, the effort has played an important role in returning liquidity to the MSR market, especially for medium-sized lenders that lived in fear of buybacks and headaches tied to representations and warranties. “The program is...

OneWest Bank’s decision to sell $78 billion in unpaid principal balance of mortgage servicing rights and related servicing advance receivables to Ocwen Financial continues the trend of banks unloading servicing with special servicers. However, the deal is unique in that OneWest’s owners have been looking to cash out of the entire banking operation for a while. Ocwen announced late last week that it will buy the MSRs and servicing advance receivables for $2.53 billion, with the sale expected to close in stages this year. “We have entered into a definitive agreement with Ocwen Loan Servicing to sell our third-party mortgage servicing rights for forward mortgages in order to sharpen our focus on developing a leading regional banking franchise,” said Joseph Otting, president and CEO of OneWest. The bank was...