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Despite Slump in ‘Conforming-Jumbo’ Market, Big-Ticket Mortgages Fared Well in Late 2015

March 9, 2016
John Bancroft
Refinance activity was heavy in the first half of 2015, and jumbo borrowers typically have more to gain by pulling the refi trigger.
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Depositories Continue to Dump Servicing Rights; But How Much More Can Nonbanks Handle?

March 9, 2016
John Bancroft
In some quarters, experts wonder how much more nonbanks can grow given capital concerns and interest rate volatility.
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It’s Nice to Have Goals and Initiatives, but They’re Costing the GSEs Plenty

March 9, 2016
Paul Muolo
In dollars and cents, additional spending at Fannie totaled $726 million over the four-year period, while at Freddie the reading was a more benign $376 million.
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Lenders Plan for Growth but Anxious About Compliance

March 9, 2016
Thomas Ressler
Roughly 88 percent of lenders said they expect to grow their mortgage origination business in 2016...
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Short Takes: GSEs Have Spent $206 Million on the Common Securitization Platform / D’Urso’s Departure was a Surprise to Him Too / Paulson & Co. Reduces Stake in Radian / Treasury Shifts Money From MHA Program to HHF

March 9, 2016
Brandon Ivey and Paul Muolo
Sources close to D’Urso said his termination by Radian was a “total surprise” to him as well.
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More Fannie/Freddie Buyback Relief Waiting in the Wings?

March 9, 2016
John Bancroft
The Federal Housing Finance Agency cautioned that the pilots are in their early stages...
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MountainView Selling $1.5 Billion GSE MSR Portfolio

March 8, 2016
Paul Muolo
After rates plunged earlier in the year, servicing auctions slowed somewhat, but are once again hitting the market.
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GSE MBS Market Share Continues to Fall; 2015 the Lowest Reading In Eight Years

March 7, 2016
John Bancroft
February’s new issuance was also the lowest monthly total for the GSEs since May 2014...
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Wholesale Mortgage Team Seeks a New Home

March 7, 2016
Paul Muolo
According to survey figures from Inside Mortgage Finance, wholesale/broker production accounted for 9.6 percent of fundings in the fourth quarter of 2015...
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Freddie Mac to Fine-Tune MBS Master Trust Accounting

March 4, 2016
Freddie Mac has launched a project to correct some “operational deficiencies” in how it transfers money in and out of mortgage-backed securities trusts. The GSE said in its 2015 10-K filing that the issue has not had a material impact on its earnings or on investors in its MBS. Freddie explained that seller/servicers deposit various funds – such as mortgage principal and interest payments owed to MBS investors and guarantee fees due to the GSE – into custodial accounts for securitization trusts. The funds owed to the company are classified as restricted until they are transferred to an operating cash account. Management, however, determined that Freddie has not maintained detailed pool-by-pool records of funds in the custodial account...
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