An Obama administration official stressed that the White House is working to craft a comprehensive plan for housing finance reform but wants input from industry participants.tasked with crafting a plan to reform the government-sponsored enterprises provided a strong response yesterday to criticism of the White House’s lack of progress on GSE reform.
Although Fannie Mae has set purchase limits on how much production newly approved seller/servicers can sell to the GSE, Freddie Mac has shied away from such caps.
At least one top-five ranked residential servicer is planning to offer for sale a decent-sized package of mostly nonperforming servicing rights over the next month.
Mortgage lenders seeking new agency approvals from Fannie Mae, Freddie Mac and Ginnie Mae have to take a number and wait. And sometimes that wait can last for a year or more, even longer depending on which “agency” a company is dealing with. But all that appears to be changing, according to interviews conducted by Inside Mortgage Finance over the past two weeks. Unfortunately, there’s little in the way of hard numbers to back that up, except for Ginnie Mae. According to an agency spokesman, Ginnie approved...
Fannie Mae and Freddie Mac in 2012 combined for the third biggest year ever in single-family mortgage-backed securities issuance, according to a new Inside Mortgage Finance market analysis and ranking.
Newcastle Investment Corp., a key player in the huge servicing sale recently unveiled by Bank of America, has raised roughly $538 million by selling 57.5 million shares of common stock in the open market.
JPMorgan Chase marked up the asset value of its mortgage servicing rights by 8 percent in the fourth quarter to $7.6 billion and reported strong residential lending results, funding $51.2 billion of product, a slight gain from a very strong third quarter.
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