Fannie Mae and Freddie Mac issued $44.6 billion in single-family mortgage-backed securities during the month of February, a 5.1 percent monthly decline and a 62.0 percent drop for the first two months of 2014. February’s decline was less steep than January’s 15.8 percent month-to-month fall off in MBS. Top-ranked Wells Fargo’s Fannie and Freddie securitization at $6.70 billion rose by 25.9 percent on a monthly basis but dropped 71.9 percent year-to-date.

The advance business for the 12 Federal Home Loan Banks increased throughout 2013 ending the year ahead both on a quarterly and an annual basis, according to preliminary figures released by the Federal Home Loan Bank Office of Finance. Advances increased 7.2 percent to $498.6 billion during the fourth quarter of 2013 while posting an even larger 17.1 percent increase from $425.8 billion a year earlier. The Office of Finance attributed the increase in advances due to “higher member borrowing, particularly by large-asset members.”

Loan correspondents and mortgage brokers continue to play a major role in the agency mortgage market, accounting for 42.9 percent of loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae in 2013, according to a new Inside Mortgage Trends analysis. Correspondents accounted for most of the third-party originations securitized by the agencies, and Wells Fargo was the top producer of these loans. Just over half of the loans sold by Wells were ... [Includes one data chart]

A Miami-based investment management firm is accusing the boards of directors of Fannie Mae and Freddie Mac of failing in their fiduciary responsibilities to the holders of the government-sponsored enterprises’ junior preferred and common stock. Fairholme Capital Management, one of the largest holders of junior preferred stock of the GSEs, says the boards need to improve their corporate governance. “At present, you remain...

Jumbo production surged 20.9 percent from 2012 levels to an estimated $272 billion – the strongest output for the sector since 2007.

Subprime delinquencies are increasing, but it's unclear whether the trend will last or whether it's just a blip on the radar screen.

Roughly 96 percent of mortgage bankers earned money in the third quarter. But that wasn't the case in 4Q, according to Richey May & Co.

Ocwen’s subprime receivables were purchased in the secondary market from other firms trying to exit the space.

The preliminary findings are not pretty: 55 percent of lender/servicers lost money in 4Q compared to just 4 percent for the first nine months of 2013.

Morgan Stanley has agreed tentatively to pay $275 million to the Securities and Exchange Commission to resolve an investigation into certain subprime MBS which the company sponsored and underwrote in 2007. The SEC has yet to sign off on Morgan Stanley's settlement proposal, which includes being charged for violation of federal securities laws and payment of disgorgement and penalties totaling $275 million without admitting to or acknowledging any wrongdoing. In an annual SEC filing, the New York-based bank said...