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Panelists Examine Cross Subsidization, GSE Pricing in Potential New Secondary Market

July 19, 2018
Part of the debate over the future of the government-sponsored enterprises is whether the existing cross subsidization in Fannie Mae and Freddie Mac pricing of guarantee fees for mortgage-backed securities should continue.
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Short Takes: Maybe Fannie and Freddie were Solvent After All / Something to Think About? / Angel Oak is Busy, Very Busy and Needs Qualified Workers / New Hires / A Strong 2Q for MGIC

July 18, 2018
Paul Muolo
The judges opined: "Indeed, the GSEs lost more in 2008 ($108 billion) than they had earned in the previous thirty-seven years combined ($95 billion). Yet the GSEs remained solvent.”
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Court Rules FHFA’s Structure Violates the Constitution. But Upholds Treasury Sweep

July 17, 2018
Carisa Chappell
The court said Congress encased the regulator in layers of insulation, which limits the president’s power to remove and replace the FHFA director...
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Short Takes: The Slow Fade of Banks Continues / False Claims Act Relief on the Way? / A Bank Advertising Mortgages on National TV / The Next Move for Bob Ryan of the FHFA? / Fannie Elects a New Director with a Blockchain Background

July 17, 2018
Paul Muolo
Most of the ads we see tend to come from nonbanks such as Quicken, loanDepot and CashCall…
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Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction

July 16, 2018
John Bancroft, Brandon Ivey, and Paul Muolo
Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...
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Phoenix Announces GSE Flow MSR Auction

July 16, 2018
Paul Muolo
The average loan size could be as high as $227,000…
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Fannie Announces MI Pilot

July 12, 2018
Fannie Mae this week released details about a pilot program that explores an alternative to how private mortgage insurance is placed on loans the government-sponsored enterprise acquires.
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GSE Single-Family Business Up Modestly in 2Q18 as Purchase Market Kicks In

July 12, 2018
John Bancroft
All of the growth in GSE volume came from the purchase-mortgage side of the business…
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Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

July 12, 2018
Paul Muolo
One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…
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Freddie to Launch Automated Servicing Transfer in August, Streamlines the Process for Smaller Lenders

July 12, 2018
Freddie Mac plans to launch a new servicing transfer tool within the next couple of weeks, part of a broader effort by the government-sponsored enterprises to enhance liquidity in mortgage servicing rights.
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