Freddie Sets Date for First Quarter Results. Freddie Mac announced that it plans to report its first quarter 2016 financial results before the U.S. financial markets open on Tuesday, May 3, 2016. Fannie Completes 10th CIRT Transaction to Date. Fannie Mae completed its latest Credit Insurance Risk Transfer transaction last week and it’s 10th deal since the program’s inception in 2013. This deal, CIRT 2016-3, shifts a portion of the credit risk on a pool of single-family loans with an unpaid principal balance of approximately $5.7 billion to a single insurer. The covered loan pool consists of 30-year fixed- rate loans with...
Quicken Loans, for example, reported a 4.9 percent increase in total originations compared to 4Q15. An estimated 81.0 percent of the nonbank’s production in 2015 was refinance loans…
Molly Boesel, a senior economist at CoreLogic, noted that in judicial states, servicers must provide evidence of delinquency to the courts in order to move a borrower into foreclosure.
The publicly traded servicer/originator took in $330.7 million in revenue, a 35.2 percent decline from 1Q15. Its origination revenue was a meager $23.2 million…
Underserved markets will suffer by not allowing Fannie Mae and Freddie Mac to retain capital, according to Rep. Mike Capuano, D-MA, who urged the Federal Housing Finance Agency and Treasury Department to re-examine the terms of their conservatorship. Under the current plan, the government-sponsored enterprises are not allowed to build capital and by January 2018 their reserves are expected to be wound down to zero. Capuano said...
A spokesman for BofA declined to provide any color on the mark, but provided a link to past financial filings where the bank talks about its hedging activities which are based on “model and other cash flow” assumptions.
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