The GOP convention starts in a few days and the party of Lincoln and Roosevelt (Teddy) has its daggers pointed toward Fannie Mae and Freddie Mac. Bully!
Fannie Mae and Freddie Mac securitized $58.61 billion of single-family home loans that carried private mortgage insurance during the second quarter of 2016, a solid 33.0 percent increase over the first three months of the year, according to a new ranking and analysis by Inside Mortgage Finance. The boost in private MI business was slightly stronger than the 26.2 percent increase in overall single-family mortgage-backed securities issuance for the two government-sponsored enterprises during the same period. Overall, the biggest increase in GSE business during the second quarter was...[Includes two data tables]
Ginnie Mae is working on an upgrade to its “acknowledgement agreement,” in an attempt to bring more liquidity to the market and improve the ability of servicers to get loans collateralized by mortgage servicing rights on the agency’s mortgage-backed securities. In an interview with Inside Mortgage Finance, Ginnie Senior Vice President of Issuer and Portfolio Management Michael Drayne said the new version could be ready by the end of August or perhaps a few weeks later. “We’re getting a lot of feedback from the industry,” said Drayne. Presently, 25 to 30 percent of the agency’s $1.7 trillion portfolio is secured...
Capital requirements that are set to take effect in 2018 for bank holdings of mortgage servicing rights won’t prompt changes to servicing activities or portfolios at most banks, according to a new analysis by federal regulators. The report by four federal banking regulators on the effect of capital rules on MSR assets was prompted by the omnibus spending bill that was signed into law in late 2015. The banking regulators examined a number of MSR trends and determined that the current regulatory course is sufficient. At the start of 2018, capital requirements for banks will get...
One mortgage insurance lobbyist added: “Fannie and Freddie really don’t want to cut fees. It would hurt their earnings. It’s hard to imagine them doing anything right now that would reduce revenues.”
With the presidential election underway, many Americans are beginning to analyze and critique the candidate’s various policies – including their views on housing and finance.
The president and CEO of the Credit Union National Association countered that the current limitations on QMs may disqualify creditworthy members from obtaining a mortgage.
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