First-time homebuyers make up a significant part of the purchase-mortgage market, but Fannie Mae and Freddie Mac have a hard time competing with Ginnie Mae, according to a new Inside The GSEs analysis of loan-level data.The three agencies securitized $118.90 billion of first-time buyer mortgages during the first six months of 2015, but Ginnie accounted for over half (52.4 percent) of the business. Ginnie’s big advantage is that it gets all the FHA and VA loans, while the GSEs so far have not gotten much traction in their reduced-downpayment programs. First-time buyers typically have less savings for a downpayment and often have less-stellar credit profiles. In the first half of this year, the average loan-to-value ratio for...(charts)

The FHFA has the authority to require the GSEs to buy chattel loans for manufactured housing, but it decided not to exercise this option...

What do nonbanks think about depositories avoiding the wholesale/broker sector? They love it.

“The most common example is a loan program for self-employed borrowers that relies on bank statements, rather than tax returns, to determine income,” Fitch said.

Quicken Loans is contributing 17.1 percent of the mortgages to the new jumbo MBS from Credit Suisse.

If Fannie Mae's origination forecast comes true, just $615 billion in loans will be written from July 1 to Dec. 31, an ugly outlook indeed…

The results are based on 354 lenders that submitted production data to the trade group.

Remember the nonprime MBS deal that Angel Oak was working on with Nomura? The transaction may be on again...

HomeReady will become part of DU later this year and replaces the MyCommunityMortgage product, which in some circles was known as Fannie’s “subprime” option.

A former FHA commissioner, Stevens said GSE reform should include a new charter for Fannie Mae and Freddie Mac...