MBA believes the imposition of compensatory fees has morphed into a risk-sharing mechanism that shifts the costs of the prolonged foreclosure process from the GSEs onto mortgage servicers.
Sen. Heidi Heitkamp, D-ND, a co-sponsor of the Johnson-Crapo bill, also said the measure is moving forward. “This train is leaving the station,” she said. But whether it makes it to the floor of the Senate is another matter.
As far as pricing goes, if g-fees are raised Fannie and Freddie could earn more money – cash that ultimately would wind up at the Treasury Department, which sweeps most of their earnings each quarter.
A new trade group is showing true love for Fannie Mae and Freddie Mac. Also, the Consumer Financial Protection Bureau is giving lenders some breathing room on the Qualified Mortgage/Ability-to-Repay rule.
Who gave up market share to nonbank lenders? The biggest decline was among banks with over $1 trillion in assets: JPMorgan Chase, Wells Fargo, Bank of America and Citigroup.
Commercial mortgage securitization – including non-agency commercial MBS and multifamily securitizations by Fannie Mae, Freddie Mac and Ginnie Mae – declined by 22.1 percent in the first quarter of 2014.
A total of $32.6 billion of income-property mortgages were securitized during the first three months of 2014, a soft beginning for a market that posted its best year since the financial collapse during 2013. Commercial mortgage securitization – including non-agency commercial MBS and multifamily securitizations by Fannie Mae, Freddie Mac and Ginnie Mae – declined by 22.1 percent in the first quarter of 2014. Total issuance was off 30.4 percent from the same period last year. Both agency and non-agency issuance was...[Includes two data charts]
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