A big deal or ho-hum: Fannie Mae in late July said it will allow for shorter waiting periods involving mortgage debt charge-off accounts and mortgage debt that is discharged through a bankruptcy.
Fannie and Freddie held a combined $252 billion in Alt A and subprime mortgage assets at the end of June, down 18.3 percent from the second quarter of 2013.
SIFMA's call for higher guaranty fees might sound like heresy in the mortgage industry, but the trade group clearly wants the non-agency market to revive.
The notion of a common pass-through MBS issued by Fannie Mae and Freddie Mac was formally put in play this week, as the Federal Housing Finance Agency solicited comment on a proposed “single security” for the two government-sponsored enterprises. The Mortgage Bankers Association has been pushing the concept for several years, and it made it onto the FHFA’s formal agenda for the GSEs in 2014. Proponents say it would improve liquidity in the market and level out Freddie’s pricing disadvantage. Under the FHFA proposal, the new common MBS would adopt...
MBS investors have been enjoying a nice little rally of late thanks to what analysts call “geopolitical” concerns, namely the conflicts in Ukraine and the Middle East. But how much further will bond prices rise and rates fall? It all depends on whom you ask. “We’ll see 2 percent on the long bond before 3 percent,” said Christopher Whalen, senior managing director of Kroll Bond Rating Agency. Over the past few weeks, MBS prices – based on the Fannie Mae 3.5 percent coupon – have neared...
The Federal Housing Finance Agency should act now to slowly increase Fannie Mae’s and Freddie Mac’s guaranty fees, according to the Securities Industry and Financial Markets Association. SIFMA’s tempered support of a proposed government-sponsored enterprise g-fee increase runs contrary to the position held by much of the rest of the industry – that now is not the time. “We encourage...
Fannie Mae and Freddie Mac continued their conservatorship march toward smaller retained mortgage portfolios during the second quarter of 2014, with most of the focus on non-agency collateral, according to a new analysis by Inside MBS & ABS. The two government-sponsored enterprises ended June with a combined $872.7 billion in mortgage-related holdings, down 3.3 percent from the previous quarter. Compared to a year ago, their combined portfolio was down 19.7 percent. It was down 45.2 percent from the $1.592 trillion they held in the fourth quarter of 2008 shortly after the two were put in conservatorship. The biggest decline has been...[Includes one data chart]
We only bring up the “going private” issue because class action attorneys have finally woken up to the fact that Ocwen’s shares have been clobbered over the past year...
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