Freddie Mac wants to help more borrowers sustain homeownership through counseling. Last week, the GSE invested in a modernized platform to streamline the process and partnered with Hope Loan Port, a nonprofit aimed at sustaining homeownership through its technology solutions. The new platform, available now, will automate several key processes, including collecting, analyzing and reporting client data, assessing client readiness to buy a home, and referring clients who are ready for successful homeownership to lenders, seamlessly. A dedicated software-as-a-service (SaaS) based platform highlights the modernization initiative and will provide the participating Borrower Help Centers with the tools to work with consumers, connect with lenders and share sensitive data securely.
The flow of home loans covered by private mortgage insurance into new Fannie Mae and Freddie Mac mortgage-backed securities fell by 11.5 percent during the first quarter of 2016, according to a new Inside Mortgage Finance analysis and ranking. That decline mirrored the 11.6 percent drop in purchase-mortgage securitization from the fourth quarter by the two government-sponsored enterprises. A slight uptick in refinance activity partly offset the slide in purchase-mortgage business. Private MIs do...[Includes two data tables]
The source continued: “Fannie and Freddie have the right to put non-compliant loans back to the originator. Eventually, someone will ask whether they knowingly bought loans that had TRID violations…"
“I would say that [MSR] prices are reasonable now,” said one advisor who spoke under the condition his name not be used. “The bid/ask spread has come down a little bit.”
In 1Q, the residential MBS sector was down 7.1 percent from 4Q15 with $277.05 billion in new issuance. It was the lowest output since the second quarter of 2014...
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