The flow of single-family home loans into agency mortgage-backed securities fell sharply in the first quarter of 2019. Fannie Mae, Freddie Mac and Ginnie Mae produced $231.38 billion of new single-family MBS during the first three months of 2019, according to a new Inside Mortgage Finance ranking and analysis.
The market for servicing sales remains strong, according to industry participants. A number of lenders are looking to sell mortgage servicing rights after weighing capital requirements and cash needs with the potential to retain borrowers, according to an analysis by Strategic Mortgage Finance Group.
The Federal Housing Finance Agency this week announced that acting Director Joseph Otting authorized Fannie Mae and Freddie Mac to release payments to both the National Housing Trust Fund and the Capital Magnet Fund.
The housing-finance reform outline from Senate Banking Committee Chairman Mike Crapo, R-ID, got its first airing on Capitol Hill this week with most witnesses giving it a thumbs up while cautioning the devil is in the details.
Home mortgages that fail one of the basic tests to be classified as a qualified mortgage have become an increasingly large part of the agency market over the past few years, a new Inside Mortgage Finance analysis reveals. [Includes one data chart.]
Joseph Otting’s dual role as acting director of the Federal Housing Finance Agency and head of the Office of the Comptroller of the Currency puts him in a position to push hard for changes that will help create a “healthy” non-agency mortgage market, according to the Structured Finance Industry Group.
President Trump earlier this week unleashed his fiscal year 2020 budget on Washington, chockful of implications for Fannie Mae, Freddie Mac, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau.
At a hearing on Capitol Hill Tuesday, Kathy Kraninger, director of the Consumer Financial Protection Bureau, assured lawmakers that she will not disrupt the mortgage industry by abruptly terminating the so-called GSE patch.
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