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The Fastest Growing Loan Types in 2Q: Jumbos and FHA/VA

August 6, 2015
John Bancroft
Over the winter, the VA program had quietly become a much more significant factor in the government-insured market...
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Redwood Cuts Forecast for Mortgage Acquisitions Due to Competition

August 6, 2015
Brandon Ivey
Redwood executives said competition has cut into margins, prompting the reduction in its forecast.
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Fannie Mae Posts Net Profit of $4.6 Billion; CEO Predicts Less Credit Overlays

August 6, 2015
Paul Muolo and Carisa Chappell
Thanks to second quarter profits posted by Fannie Mae and Freddie Mac, the Treasury Department will be richer by $8.3 billion...
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Fannie: Homeowners Underestimating Equity, Better Home Value Tools Needed

August 6, 2015
With house prices rising over the past few years, as many as 15 million homeowners appear to be underestimating how much equity they’re actually sitting on, according to a new analysis released this week from Fannie Mae. The percent of homeowners estimated by CoreLogic to have significant home equity was much higher than the percent who actually perceived themselves as having equity in Fannie consumer surveys. The government-sponsored enterprise attributes this to a lack of access to credible home value equity tools coupled with a lack of knowledge on the homeowner’s part. This means...
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Fannie and Freddie Report Sharp Increases in Earnings From Huge Swings in Hedge Performance, G-Fees Ease

August 6, 2015
Fannie Mae and Freddie Mac both reported significant increases in net income during the second quarter based largely on hefty gains on their hedging activities. The two government-sponsored enterprises earned a combined $8.81 billion during the second quarter, up from just $2.41 billion for the first three months of 2015. As a result, the Treasury Department will sweep a combined $8.26 billion from Fannie and Freddie into its coffers. Rising interest rates played...
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Two Stunners: Ginnie Issuers Pump Out a Record $45.5 Billion; Ginnie Issuance Tops Fannie’s

August 5, 2015
John Bancroft
The last time Ginnie Mae was the top agency issuer was in January of 2009...
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Phoenix Capital Selling $2.2 Billion of Servicing Rights

August 5, 2015
Paul Muolo
The Fannie Mae portion of the MSRs is top heavy in California product at 44 percent of the receivables.
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GSE ‘Jumbo’ Share Rising With Heavy Refi Volume

August 4, 2015
John Bancroft
Conforming-jumbos accounted for almost 10 percent of GSE business on single-unit properties in the first half of this year...
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Freddie Mac Earns Almost $4.2 Billion in 2Q, Will Ship $3.9 Billion to Uncle Sam

August 4, 2015
Paul Muolo and Carisa Chappell
Freddie CEO Don Layton noted that, “G-fees now account for more than 40 percent of income and is becoming a growing revenue source.”
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Short Takes: A Slight Decline in G-Fees at Freddie / Underwriting Looser? / Lenders One Lines Up New Investors / A New CEO Yet for LO? / UGI Increases NIW

August 4, 2015
Paul Muolo, Brandon Ivey, and Carisa Chappell
Lenders One, by the way, is looking for a new CEO. Its former chief executive, Jeff McGuiness, left back in June...
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