A continued decline in GSE refinance activity helped contribute to an overall dip in the volume of single-family mortgages securitized by Fannie Mae and Freddie Mac in November, according to a new Inside The GSEs analysis. Fannie and Freddie issued $58.7 billion in single-family mortgage-backed securities in November, a 13.4 percent decline from October and a 6.2 percent decrease for the first 11 months of 2013.
The Federal Reserve will slightly decrease the amount of its monthly purchases of agency mortgage-backed securities but agency MBS issuance might decline by even more than the Fed's planned taper.
Concerns about red tape from lenders have prompted an increasing share of homebuyers to use all cash to purchase a home, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Some 29.3 percent of home purchases completed in November relied solely on cash, based on a three-month moving average. That was the third monthly increase in the share of cash transactions. Tom Popik, research director of Campbell Surveys, said...
FHA officials first asked for the servicing authority back in June, but the request has gone nowhere. Fannie Mae and Freddie Mac already have transfer authority.
It may sound complicated, but it appears that Nationstar is selling a portion of its MSR fee on certain rights so it can deleverage and buy even more servicing.
The drop in warehouse commitments mirrored, somewhat, the fall-off in residential originations, which declined almost 19 percent in the third quarter, according to figures compiled by Inside Mortgage Finance.
The rating service this week placed the primary servicer rating of EverBank Mortgage on “watch” for a potential downgrade due to changes to the servicer’s platform.
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