With the launch of the single security less than a year away, there are some uncertainties that Fannie Mae, Freddie Mac and the industry expect to have cleared up before making the switch next June. They range from ensuring fungibility between Fannie and Freddie securities, to creating more regulatory clarity, preparing third parties and determining how the Securities Industry and Financial Markets Association will consider the new security in the to-be-announced market....
The Federal Housing Finance Agency’s recent stress test results show that the GSEs could need up to $77.6 billion in a severe economic crisis. But quarterly earnings continue to show a profitability that cancels out the need for a bailout. Required annually by the Dodd-Frank Act, the test of severely adverse scenario is based on Fannie Mae and Freddie Mac portfolios as of Dec. 31, 2017....
As the GSEs’ share of the multifamily market continues to grow, the Federal Housing Finance Agency wants them to take more precautions when selecting and monitoring their multifamily seller/servicers. The regulator issued an advisory bulletin this week outlining expectations for Fannie Mae and Freddie Mac to institute proper controls and perform monitoring to identify and manage risks associated with ....
Fannie Mae issued its second fraud alert of the summer, warning lenders about borrowers using fake companies as their employers on loan applications. This time the fake companies seemed to have expanded their reach from southern California to Northern California.Ten more possibly fictitious companies have been found to be included on mortgage documents. The original alert included ....
Fannie’s Eighth RPL Sale. Fannie Mae began marketing its eighth sale of reperforming loans this week. It consists of approximately 18,400 loans, having an unpaid principal balance of $3.59 billion, and is available for purchase by qualified bidders. Reperforming loans are mortgages that were previously delinquent, but are performing again because payments ....
Fannie Mae and Freddie Mac appear to be on track for a June 2019 launch of the new uniform MBS, but the Securities Industry and Financial Markets Association has yet to issue a formal declaration on to-be-announced eligibility for UMBS.
Fannie Mae and Freddie Mac issued a combined $65.85 billion of single-family mortgage-backed securities last month, a 1.0 percent decline from their June total, according to an Inside The GSEs analysis of MBS data. Compared to the first seven months of 2017, the GSE single-family business was down 7.4 percent as of the end of July. Most of the month-to-month slump was at Freddie, where MBS production fell 8.9 percent from June. Fannie managed a 5.0 percent increase in July. Both GSEs are off about the same on a year-to-date basis. [Includes two data charts.]
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