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Short Takes: FHFA Issues Progress Report on Securitization Platform / But Little Progress in Finding a Platform CEO / Union Bank Buys LPS Software / Ally Totally Out of MSRs / Shiller Not so Bullish on Housing

May 1, 2013
Paul Muolo and Charles Wisniowski
FHFA issues progress report on the "common securitization platform" but no CEO is in place yet. Meanwhile, Ally is out of MSRs totally.
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White House Pick of Rep. Watt for FHFA Job Won’t Affect GSE Net Worth Debate

May 1, 2013
Paul Muolo
If Rep. Mel Watt gets the FHFA job will he tinker with GSE net worth minimums?
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Short Takes: Will Mel Watt or Mel Martinez Head FHFA? / Freddie Mac Tries to Help Lenders Prevent Buybacks / CoreLogic: Completed Foreclosures Decline / First Guaranty Hires TPO Chief

April 30, 2013
Paul Muolo
The White House continues to search for someone to head the FHFA. But will it ever officially introduce a candidate? Mel Watt's name has come up again.
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FSOC Says MBS-Investing REITs are ‘Highly Exposed’ if Rates Rise Quickly

April 30, 2013
Brandon Ivey
Publicly traded REITs that invest in MBS "borrow short" and "lend long." But is that a problem? It might be, says FSOC.
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Freddie Exec: Common Securitization Platform Builders Face ‘Very Consequential Decisions'

April 30, 2013
Charles Wisniowski
It's not easy building a common securitization platform, so writes a Freddie Mac executive in a new blog posting.
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Known for its Jumbo Prowess, Union Bank Branches Out into Conventional Conforming

April 30, 2013
Paul Muolo
Union Bank hopes to make a big splash as a retail funder of Fannie Mae and Freddie Mac loans.
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Freddie to Retire Software for Handling Delinquent Mortgages

April 29, 2013
Charles Wisniowski
Freddie Mac is phasing out a software package that helps with the servicing of delinquent loans, a move that could help private sector technology vendors.
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IMA in the Market with a $900 Million Flow MSR Deal

April 29, 2013
Paul Muolo
The "flow" market for mortgage servicing continues to improve. IMA is in the market with a new package and others are on the way.
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Short Takes: Improved Mortgage Profit Margins in 2Q / Help for the Manufactured Housing Market / Citigroup Loves Jumbos / $25 Billion in HAMP Money Left / Freddie Speaks About the Common Securitization Platform

April 29, 2013
Paul Muolo and Thomas Ressler
Mortgage profits are improving in the second quarter, but how long can it last? Meanwhile, Freddie talks about the CSP.
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Fannie, Freddie Market Share Rises in 1Q 2013

April 26, 2013
Both Fannie Mae and Freddie Mac held onto their ample shares of mortgage-backed securities with a slight bump during the first quarter of 2013, according to a new Inside The GSEs analysis. The two GSEs issued a combined $355.8 billion in MBS during the first quarter, a 0.9 percent increase from the fourth quarter of 2012. Compared to the first three months of last year, Fannie and Freddie saw a 16.6 percent increase in MBS issuance. Between the two companies, Fannie and Freddie registered an abundant 76.0 percent share of new MBS during the period that ended March 31, 2013, up from 75.8 percent the two companies held during the fourth quarter of 2012 but lower than the 78.0 percent both GSEs held during the first quarter of 2012.
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