In supplemental materials to his speech, President Obama referenced the GSEs' “failed business model,” adding that taxpayers should never again be “on the hook for bad loans and bailouts.”
The settlement covers damages suffered by Fannie Mae from misrepresentations Lehman was alleged to have made regarding the quality of non-agency product it sold to the GSE.
Mortgage topics don’t always make the President’s State of the Union speech, but President Obama Tuesday night may touch on the issue of credit availability and whether the government has “gone too far.”
Meanwhile, MountainView Servicing Group is also in the market with a new MSR offering: $224 million of receivables backed by Fannie Mae and Freddie Mac product.
Despite AEI’s findings, delinquencies on GSE loans continue to fall. In December, for example, Freddie’s single-family delinquency rate totaled 2.39 percent compared to 3.25 percent a year earlier.
The cost of mortgage compliance was a topic making the rounds at the recent ABS Vegas show in Nevada. Attendees, of course, wanted to know who might pay for all the new added costs.
Besides Freddie Mac and FHA, the three other main competitors for Fannie in the multifamily sector are life insurance companies, banks and conduit lending programs.
Fannie Mae and Freddie Mac are likely to find the multifamily MBS space to be noticeably more competitive this year as increasing levels of private capital respond to improving market conditions, one top government-sponsored enterprise official suggests. One of the most influential factors that will determine how much volume the GSEs do in multifamily will be “more competition in the market in 2014 than we saw in 2013,” thanks to increasing levels of private capital, according to Manny Menendez, senior vice president of multifamily capital markets and pricing for Fannie. Besides Freddie and FHA, the three other main competitors for Fannie in the sector are...
Who at the GSEs (or at the Federal Housing Finance Agency) was responsible for telling Fannie and Freddie to set aside so much money for loan losses and were those assumptions way off base?
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