The DTAs are available to the GSEs as future deductions against taxable income. A reduction in the corporate tax rate would reduce existing DTAs for not just Fannie and Freddie but for other U.S. businesses as well.

Fannie Mae saw the biggest drop in refi volume, a 30.2 percent decline from December…

Production of single-family MBS at Fannie Mae, Freddie Mac and Ginnie Mae declined substantially in January, according to a new Inside MBS & ABS analysis and ranking. Mortgage lenders delivered a total of $134.21 billion of single-family loans into agency MBS issued during the first month of 2017, down 15.6 percent from December’s gross new issuance. The residential mortgage industry recorded...[Includes two data tables]

Fannie Mae’s recent decision to provide a $1 billion financing commitment to single-family rental operator Invitation Homes has raised a few eyebrows, but for the most part it appears to be a fairly benign transaction that should benefit both parties. The arrangement was sanctioned by the Federal Housing Finance Agency, which views the relationship as just another way for Fannie to finance rental housing. The rental units are 50,000 single-family residences scattered around the country – not apartment buildings. “Given the growth in the single-family rental market, FHFA considered...

A federal appeals court has rejected government efforts to reverse a September ruling by Federal Claims Court Judge Margaret Sweeney ordering the government to turn over various memos, emails and presentations to investors in litigation involving the Fannie Mae and Freddie Mac net worth sweep. On Jan. 30, the U.S. Court of Appeals for the Federal Circuit ruled in favor of investors in the two government-sponsored enterprises, upholding Sweeney’s earlier decision, and ordered the government to release 48 of the 56 documents because they don’t merit privilege treatment. Eight of the documents were...

When commercial banks run screaming from a business, it usually opens up a huge opportunity for nonbanks…

When it comes to cashing out of large blocks of GSE common stock, sellers face the ‘Roach Motel’ syndrome: investors check, but can’t necessarily check out…

With interest rates staying steady the past few weeks, more bulk MSR deals are hitting the market.

Not only did Citigroup shock the market this week with its decision to exit residential servicing operations, but the move could be the start of an eventual withdrawal from all mortgage banking. For now, the nation’s sixth-largest servicer – and 13th-largest originator – is strongly refuting such talk, but that isn’t stopping the industry from speculating on the megabank’s next move. “If they firmly believe they can’t make money in servicing and cross-selling, then this is...

Real estate investment trust New Residential Investment Corp. has been quietly trolling for mortgage servicing assets the past year and snagged a big one this week when it agreed to buy $97 billion in agency rights from Citigroup. Now comes the hard part: incorporating the receivables into an already fast-growing portfolio and convincing regulators at the Federal Housing Finance Agency and Ginnie Mae officials that it has both the management structure and the financial wherewithal to handle so much product. According to a tally from Inside Mortgage Finance, since early December New Residential has acquired...