After hearing lenders’ concerns about the increased reporting burden they would face from some of the changes that Fannie Mae and Freddie Mac want to make to their Uniform Closing Dataset requirements, the two government-sponsored enterprises agreed to postpone the requirement to provide the seller closing data for one year. “The GSEs understand the difficulties that acquiring the seller data presents, particularly as many lenders are still working through their processes to obtain the seller closing disclosure and data from settlement companies,” the pair said late last month in letters to the Mortgage Bankers Association. “In recognition of these challenges, the GSEs have agreed...
Fannie Mae and Freddie Mac reported a combined net profit of $5.53 billion in the third quarter of 2016 with income from guarantee fees strong in both the single-family and multifamily segment. Both government-sponsored enterprises expect guarantee fee income to continue to be a driving force. Freddie’s net profit of $2.33 billion represents its strongest performance since the second quarter of 2015, when it earned $4.17 billion. Stellar g-fee income and a steep reduction in hedging losses helped contribute to that growth. Meanwhile, Fannie reported...
Through the first nine months of 2016, Freddie Mac earned $2.97 billion. It lost $354 million in 1Q and then turned around and posted a $993 million profit in the second quarter.
Pingora Loan Servicing, Matrix Financial Services and Arvest Bank were the top acquirers of GSE servicing through co-issuance over the first nine months of the year.
The Cato Institute said the former Freddie executive Anthony “Buddy” Piszel consistently received exemplary performance reviews and was cleared of any wrongdoing…
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