A higher share of Baby Boomers are carrying mortgage debt in retirement than previous generations, prompting concerns about potential foreclosures and other financial issues, according to an analysis by Fannie Mae. “Even with the post-recession acceleration in free-and-clear homeownership, Boomers appear unlikely to attain mortgage-free retirements at the same rate as the predecessor generation,” Patrick Simmons, a director of strategic planning in Fannie’s economic ...
The universe of servicing single-family home loans for Fannie Mae, Freddie Mac and Ginnie Mae continued to expand in the third quarter, but a handful of large banks wanted little to do with it. The three agencies had a combined $6.378 trillion of single-family mortgage-backed securities outstanding at the end of September, up 1.9 percent from the midway point in the year, according to a new Inside Mortgage Finance analysis of agency MBS disclosures. All three ... [Includes two data charts]
Freddie Mac faced criticism last week from consumer advocates for the way the government-sponsored enterprise’s automated underwriting system handles certain functions involving merged credit reports and Equifax. A story in the New York Times this week detailed how Equifax acted as a “gatekeeper” for certain borrower credit information in Freddie’s Loan Quality Advisor. LQA is a risk and eligibility assessment tool that evaluates loan data to help lenders determine if ...
Formed in 2014, LH originated $598 million in 2016, ranking 442nd overall, according to Home Mortgage Disclosure Act figures compiled by Inside Mortgage Finance.
Meanwhile, one detail about the capital buffer falling to zero remains unclear: On Jan. 1 will every single penny of the $600 million (at each) be carted away?
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