After taking a steep drop in production during the first quarter, the agency MBS market will likely see another downturn in new issuance in the second half of this year. A total of $340.8 billion of single-family MBS were issued during the first quarter by Fannie Mae, Freddie Mac and Ginnie Mae. That was...[Includes three data charts]
Following last weeks lengthy and at times contentious markup session where then House Financial Services Capital Markets and GSE Subcommittee pushed through a package of eight bills to bolster oversight of Fannie Mae and Freddie Mac, industry observers are still working to get their arms around...
The member advance business the core product line for the Federal Home Loan Banks continued to decline at the end of 2010, hitting a nine-year low. The 12 FHLBanks reported a total of $478.6 billion in outstanding advances at the end of last year, down 24.2 percent from the end of 2009. It was the lowest volume of... [Includes two data charts]
Newly issued guidance from the Federal Housing Finance Agency requires Fannie Mae, Freddie Mac and the Federal Home Loan Banks to report any fraudulent financial instruments that they purchased or sold. but the guidance also requires Fannie and Freddie to take the extra step of submitting monthly fraud reports to...
The outgoing president of the Federal Reserve Bank of Kansas City turned some heads this week when he declared that the nations largest banks and recipients of federal bailout funds should be re-branded as government-sponsored enterprises and their lending activities should be curtailed accordingly. Thomas Hoenig reportedly told...
A recent survey by the New York-based Reputation Institute found that Freddie Mac is the least reputable company to do business with, while fellow GSE Fannie Mae was named the third least reputable company, but an expert advised that its not the end of the world for publicity-challenged companies. The private consulting firm conducted...
The Federal Housing Finance Agency last week approved some updates to Fannie Maes corporate performance goals which the company will use to determine executive compensation. Fannies newly approved 2011 corporate goals will be the barometer by which performance will be measured for the purposes of the first installment of the...
The Federal Home Loan Bank of Seattle is making progress in light of its ongoing struggles in the mortgage market but significant challenges remain, according to a recent ratings announcement by Fitch Ratings. Last week, Fitch announced it has assigned long-term and short-term Issuer Default Ratings (IDR) to the...
The Department of Housing and Urban Affairs has declared April Fair Housing Month as it launched a nationwide media campaign to commemorate the Fair Housing Act. The Fair Housing Act was enacted 43 years ago this April to protect minorities and other groups from housing discrimination. The FHAct prohibits...
The decline in high-cost conforming loan limits set to occur later this year will affect a small fraction of the more than 300,000 counties in the U.S., according to an analysis released last week by the Federal Housing Finance Agency. However, concerns remain that the non-agency sector will not adequately serve...