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.
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...
Fourteen months after the White House signaled its intention to make Carol Galante the nation’s next housing commissioner, the Senate on Sunday afternoon finally confirmed her nomination.
A federal judge recently approved an $11.25 million settlement for investors who purchased $5.26 billion of non-agency MBS issued by jumbo lender Thornburg Mortgage. The lawsuit alleged false and misleading disclosures by Thornburg.
Forget (for now) the story about Bank of America scuttling the sale of $14 billion of high-touch mortgage servicing rights. Inside Mortgage Finance is hearing that over the past several weeks the megabank was looking to unload upwards of $300 billion in MSRs, or at least talking about it to select buyers. BofA, as we pointed out, doesn’t talk about its servicing sales, though it does acknowledge them (sometimes) in its earnings calls with analysts.…
Mortgage securitization rates remained at records levels through the third quarter of 2012, with 86.3 percent of primary market originations being financed as MBS according to a new analysis by Inside MBS & ABS.
GSE MBS business hit a post-crisis record in 2012. A new Inside Mortgage Finance analysis of Fannie Mae and Freddie Mac securitization activity reveals that the two GSEs issued a whopping $1.27 trillion of single-family MBS in 2012.
Investors with nearly $1 trillion of holdings of non-agency mortgage-backed securities are concerned about the Obama administration’s latest loan modification proposal, according to Tom Deutsch, executive director of the American Securitization Forum.
The CFPB’s new qualified mortgage rules will frustrate the market and adversely impact traditional supply and demand principles that could slow the sector’s recovery, according to scholars at the Heritage Foundation, a conservative think tank in Washington, DC. “Neither consumers nor creditors emerge as winners,” write research fellows Diane Katz and David John in an issue brief on the new QM rules, issued earlier this month. Irresponsible lending did in fact play...
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