The inspector general of the Federal Housing Finance Agency voiced concerns about the agency’s supervision of Fannie Mae and Freddie Mac, while lawmakers questioned why new products like the Integrated Mortgage Insurance (IMAGIN) credit risk-transfer program were implemented without going through the proper channels.
Fannie Mae, Freddie Mac and Ginnie Mae posted a two-year low in new single-family business during the first quarter of 2018, according to a new Inside Mortgage Trends analysis of loan-level mortgage-backed securities disclosures. The three agencies guaranteed a total of $268.78 billion of purchase mortgages and refinance loans during the first three months of the year. That was down 19.2 percent from the previous three-month period and ... [Includes one data chart]
Inflated house appraisals known as markups lead to higher mortgage delinquencies and slower prepayments, according to a new paper by the Federal Housing Finance Agency’s Office of Policy Analysis and Research. The researchers defined markups as instances where appraisals for purchase mortgages and refinances set home values higher than those generated by automated valuation models. The working paper was based in part on home-price data on more than 100 million ...
A ranking of primary mortgage insurance for purchase mortgages by state in the first quarter of 2018. Includes private mortgage insurance, FHA, VA and USDA Rural Housing.
Fannie Mae and Freddie Mac had wildly different experiences in the first quarter of 2018, a period when both firms saw declining single-family business volume. But Freddie’s production of single-family mortgage-backed securities plummeted 29.2 percent from the fourth quarter of 2017, while Fannie’s 5.7 percent decline was roughly one fifth as severe. Those cross-currents upended the playing field, giving Fannie a hefty ... [Includes two data charts.]
RSS