Freddie Mac reported new buyback demands on $3.3 billion of mortgages during the third quarter, a stunning 31 percent increase from the previous period.
Issuance of jumbo MBS was strong in 2013 until interest rates started to rise in May due to concerns that the Federal Reserve was set to taper its stimulus efforts.
Mel Watt said he will formally announce the delay in higher LLPAs and g-fees after he is sworn in on Jan. 6, the same day he will resign his House seat.
According to calculations from Inside Mortgage Finance, some counties will see the limit fall to $271,050. At the very least FHA should allow for a phase-in period, said one industry lobbyist.
As an industry, banks assigned a fair-market value of $48.4 billion to their mortgage servicing rights, according to figures compiled by Inside Mortgage Trends.
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.