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Purchase Mortgages Continued to Dominate in 3Q17 but Refis Gained Ground

December 7, 2017
John Bancroft
Agency MBS data indicate that first-time buyers have been key to this year’s surge in purchase-mortgage activity...
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If Rep. Hensarling Gets His Way, GSE Shareholders Would be Wiped Out

December 7, 2017
Paul Muolo
If the Texas Republican gets his way, investment firms including Pershing Square and Fairholme Funds stand to lose the millions of dollars…
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Short Takes: Not Happy with Jeb’s GSE Comments / Lame Duck or Not… / White House Leaning Toward Michael Bright / Granite Ramps Up Commercial Commitments / Dart Hires Finance VP

December 7, 2017
Paul Muolo
It's only a matter of time before the White House officially nominates acting Ginnie Mae president Michael Bright to be the permanent head of the agency...
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Since the Summer, a Sweet Rally for Fannie Mae, Freddie Mac Common. Meaning?

December 6, 2017
Paul Muolo
Investor Pershing Square Capital should be happy. The firm owns roughly 9.98 percent of Fannie common and 9.77 percent of Freddie.
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HFSC Chairman Hensarling Makes it Official – He’s Open to Idea of U.S. Backing Mortgages, but Still Wants to Kill Fannie and Freddie

December 6, 2017
Paul Muolo
However, Hensarling is adamant that the plug be pulled on Fannie Mae and Freddie Mac...
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FHFA Updates CSP Project: $661.6 Billion of Issuance Thus Far for Freddie; A Fear of Price Differentials?

December 5, 2017
Paul Muolo
The FHFA said it’s working with Fannie and Freddie to “develop processes to identify and align those enterprise programs, policies, and practices that could materially affect prepayments.”
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Short Takes: When it Comes to GSE Issues, No Lobbying Please / A Large MSR Package Forthcoming? / KBW Ends Coverage of Walter / Newfi Gets Fannie Approvals, FHA / Yes, Cordray is Running for Governor / Redfin Director Departs Suddenly

December 5, 2017
Paul Muolo
We understand that a fairly large bulk portfolio of mortgage servicing rights might be hitting the auction block soon...
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3Q17 Mortgage Buyback Activity Higher at Freddie, Lower at Fannie

December 4, 2017
John Bancroft
GSE buyback activity has trended lower over the past two years…
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As ‘Zero Capital’ Day Approaches, Senate Moves to Create a GSE Bill

December 4, 2017
Paul Muolo
Lobbyists and others tracking the effort told this newsletter that those who’ve been shown the legislative language have taken a non-disclosure vow…
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Short Takes: Atlanta’s Mayor Wants Fannie Chairman Perry to Resign / Arch’s Chief Economist: Housing Relief for Seattle, Looser Credit / LendingHome Hits $2B Mark / Senators Make Threats Regarding English / A Promotion at LoanLogics

December 4, 2017
Carisa Chappell, Paul Muolo, and Thomas Ressler
Nine senators said they would work to invalidate any new rules issued by the CFPB if Leandra English prevails in her attempts to unseat and replace the bureau’s acting director, Mick Mulvaney...
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