Nationstar appears to be the winning bidder on the Taylor Bean & Whitaker MSR pacakge. Meanwhile: Ed DeMarco, the most powerful man in mortgage finance today?
FHA funding accounted for 25 percent of home-purchase financing in January, based on the three-month moving average, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. February numbers will be released shortly.
The Federal Housing Finance Agency is mandating that Fannie Mae and Freddie Mac each enter into $30 billion of “risk sharing” transactions this year and move a little more quickly to reduce their $1.19 trillion of on-balance sheet holdings, including whole loans and non-agency MBS. The edict comes directly from FHFA Acting Director Edward DeMarco, who provided few details about the initiative during a speech this week to the National Association for Business Economics. DeMarco also announced that the regulator intends to set up a new government entity that will develop and manage the common MBS securitization platform that’s been in the works for the two government-sponsored entities. One reason for pushing the GSEs to test drive risk-sharing structures is...
Industry observers are scratching their heads after the Federal Housing Finance Agency this week took another step toward a future secondary mortgage market by announcing a plan to establish a single entity that would be used by Fannie Mae and Freddie Mac – and at some point, perhaps, private issuers – to issue mortgage-backed securities. Acting FHFA Director Ed DeMarco, in a speech before the National Association for Business Economics, laid out his plan for a single MBS platform that would be run by, and apparently developed by, an entirely new government entity “separate” from Fannie and Freddie. The platform, he promised, would have...
The purchase mortgage business has been in the tank since the housing crash. Although home buying is on the upswing, will it be enough to replace the refi boom?
Many mortgage bankers are bracing for a slowdown in originations this year, but they have an even larger concern on their hands: whether Fannie Mae and Freddie Mac will hike their net worth minimum currently set at $2.5 million. The GSEs and their regulator have said little on the subject, but there is rampant speculation that it’s only a matter of time before higher net worth minimums are introduced – it’s just a matter of when,…
The top Democrat of the House Financial Services Committee has “concerns” and wants answers from Fannie Mae’s regulator as to why it pulled the plug on the GSE’s plans to lower the cost of force-placed insurance. Rep. Maxine Waters, D-CA, the committee’s ranking member, dispatched a letter this week to Federal Housing Finance Agency Acting Director Edward DeMarco seeking an explanation as to why the Finance Agency abruptly shut down a plan pushed by Fannie…
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