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Freddie Pays the Government a Lot More Than Its Quarterly Profit Sweep, G-Fees Steady in 1Q15

May 7, 2015
Freddie Mac will send $746 million to the U.S. Treasury under the conservatorship plan that siphons off nearly all the government-sponsored enterprise’s net profit every quarter, but that’s not all the cash being milked from the GSE. During the first quarter of 2015, Freddie sent $219 million to Treasury under the 2011 law that squeezed the GSEs to pay for a continuation of a payroll tax cut for U.S. workers. The levy is 10 basis points of guaranty fee charged by Freddie and Fannie Mae, and it’s a steadily rising amount as a greater share of GSE business is subject to the charge. In the first quarter of last year, Freddie paid...
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Delinquency and Foreclosure Performance Improves to Levels Last Seen in 2007

May 6, 2015
Brandon Ivey
Nearly every firm tracked in the Inside Mortgage Finance Large Servicer Delinquency Index reported improvements in mortgage performance during the first quarter...
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Bank of America Throws 203(k) Loan Program Overboard

May 6, 2015
Paul Muolo
Among all FHA originators, Bank of America ranks eighth nationwide, based on January figures...
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Short Takes: FHFA’s Reps-and-Warranties Clarifications a Bust? / Deephaven’s Nonprime Volume a Mystery / A ‘Responsible’ Nonprime Lender / Mostly a Seller’s Market for Homes?

May 6, 2015
Paul Muolo
Deephaven's website boasts that it helps “aspiring” homeowners “purchase homes as soon as one day after foreclosure or short sale.”
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Fears Over TRID’s Impact Intensify as Clock Ticks

May 5, 2015
Thomas Ressler
As the TRID deadline approaches industry anxieties are getting stronger and more specific in nature.
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Nationstar’s Stock Hammered After Firm Posts $48 Million 1Q Loss

May 5, 2015
Paul Muolo
On the plus side, the publicly traded nonbank funded $4.2 billion during Q1, a 16 percent sequential improvement.
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Report: A Large Chunk of VA Loans are Not Closing On Time

May 5, 2015
George Brooks
“For VA, this is a significant change for the worse,” said Tom Popik, designer of the survey.
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Freddie’s CEO Layton: Earnings Won’t Rise Much From Here

May 5, 2015
Paul Muolo
In the first quarter, Freddie Mac's net interest income rose on a sequential basis by a mere 2 percent to $3.647 billion.
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Short Takes: CFPB Holds a Candle for the 'Credit Invisible' / Walter Gets Smacked Around Too / New Fannie MF MBS / Correction on MDS

May 5, 2015
Paul Muolo
Fannie Mae reported Tuesday that the GSE issued $10.4 billion of multifamily MBS in the first quarter of 2015, primarily through its delegated underwriting and servicing program.
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VA Loan Production Almost Equal to FHA – Thanks to Refis

May 4, 2015
George Brooks
Wells Fargo, top VA seller to Ginnie Mae, showed a modest 7.6 percent increase in Ginnie MBS issuances in the first quarter...
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