HomeReady will become part of DU later this year and replaces the MyCommunityMortgage product, which in some circles was known as Fannie’s “subprime” option.
Freddie’s multifamily business grew so much that some industry observers worried that the GSE could reach the $30 billion annual multifamily business cap set by the FHFA.
Commercial banks and savings institutions kept increasing their stake in agency mortgage-backed securities during the second quarter of 2015, according to a new Inside MBS & ABS ranking and analysis.
Commercial banks and savings institutions continued to grow their investments in agency MBS during the second quarter of 2015, according to a new Inside MBS & ABS ranking and analysis. Banks and thrifts held $1.583 trillion of agency and non-agency MBS on their balance sheets at the end of June. That was up just 0.3 percent from the first quarter, but it was the highest level since the first nine months of 2012, when bank and thrift MBS holdings topped $1.60 trillion. All the gain came...[Includes two data tables]
Fannie Mae on Thursday unveiled that Lone Star (LSF9 Mortgage Holdings) was the sole winning bidder on its second sale of non-performing mortgages. The auction was marketed in late July and is expected to settle Sept. 25.
Fannie Mae and Freddie Mac continue to increase their focus on the multifamily segment, which generated growing income for the two government-sponsored enterprises during the second quarter. Freddie Mac’s comprehensive income for multifamily grew by $102 million to $366 million for the second quarter. The increase was primarily due to higher unrealized gains on available-for-sale-securities. New purchase volume remained...