The VA home loan guaranty program also is building market share, with $25.52 billion of new business written during the second quarter, a 36 percent increase from early 2014.
One non-QM executive who competes with Impac said the company’s forecast likely will not come true. “Right now, this is a very limited market – and there are no securitizations,” he said.
Fannie Mae and Freddie Mac reported a combined $5.0 billion in net income during the second quarter of 2014, down 46.2 percent from the first three months of the year as the two government-sponsored enterprises reported a significant downshift in repurchase activity. Through the first six months of the year, GSE profits were down nearly 81.7 percent from the first half of 2013. But Fannie and Freddie reaped huge profits in 2013 through hefty legal settlements, the capture of deferred tax assets and seller buybacks. “When you look back on 2013, our goal was...
According to figures compiled by Inside Mortgage Finance, Freedom grew second quarter originations by almost 49 percent, the best sequential gain for any top 10 ranked lender.
A diverse group of 31 lenders tracked by Inside Mortgage Trends reported a combined $4.13 billion in mortgage banking income during the second quarter, up 32.7 percent from the first three months of 2014.
Mortgage origination volume was up in all three major production channels during the second quarter of 2014, with a slight shift in market share toward the retail channel as well as to brokers, according to a new Inside Mortgage Finance analysis and ranking.
Fannie Mae and Freddie Mac are expected to pay some $5.6 billion to taxpayers based on “normal” second-quarter earnings that were not bloated by big-ticket tax breaks or large litigation settlements, the two government-sponsored enterprises announced this week. Once the two GSEs have made the latest Treasury payment in September, Fannie and Freddie will have returned about $218 billion to taxpayers for the approximately $188 billion in financial support the two firms received after being placed in government conservatorship in September 2008. Under the revised conservatorship agreement announced two years ago this month by the Federal Housing Finance Agency and the Treasury Department, any GSE net worth exceeding $3.0 billion is impounded...
Freddie Mac late last week revealed that it sold a $659 million package of what it calls “deeply” delinquent loans from its investment portfolio – a first for the government-sponsored enterprise. Co-advisers on the competitive bid auction include Bank of America Merrill Lynch and Credit Suisse Securities. Freddie noted that the sale was conducted at the end of July “and executed indirectly through Bank of America affiliates.” However, the GSE declined to identify the buyer or provide any pricing information. “The transaction was...
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