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Inside The GSEs
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The Mandate Continues: GSE Mortgage Portfolios Down to $637 Billion

August 11, 2016
John Bancroft
The GSEs have reduced their holdings of subprime MBS to just $17.5 billion.
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New MI Has a Stellar Spring, Setting New Business Records in a Booming Market

August 11, 2016
John Bancroft
All seven of the nation’s active MIs reported hefty increases in flow volume…
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Relationship with Fannie CEO at Heart of Decision to Fire Fifth Third General Counsel. So Far, Industry Questions Bank’s Decision

August 11, 2016
Paul Muolo
According to figures compiled by Inside The GSEs, Fifth Third doesn’t even rank among Fannie’s 40 largest customers and sells almost 70 percent of his home mortgages to Freddie Mac, based on July data.
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As Rates Stabilize, More Bulk MSR Deals Hit the Auction Market

August 11, 2016
Paul Muolo
The $1.5 billion offered by MIAC has an average interest rate of 4.22 percent and delinquencies of 2.65 percent.
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Short Takes: When Donald Met the NAHB / No New Regulations? / Foreclosures Rise on a Sequential Basis / Good News for the FHA MMIF / New Hire at Incenter

August 11, 2016
Paul Muolo and Sherry Muolo
Earlier in the week, candidate Trump warmed the hearts of banking and financial services executives everywhere when he said he would propose a moratorium on all new financial regulations…
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FHFA Stress Test of Hypothetical Crisis Shows Fannie And Freddie Could Need as Much as a $125B Bailout

August 11, 2016
In the event of a severe economic crisis, Fannie Mae and Freddie Mac could need a bailout of up to $125.8 billion, according to a Federal Housing Finance Agency stress test released this week. The test of severely adverse scenarios, required by the Dodd-Frank Act for companies with total consolidated assets of more than $10 billion, took place in March and is based on Fannie and Freddie portfolios as of Dec. 31, 2015. The bailout would be needed on an incremental basis and would also depend on the treatment of the government-sponsored enterprises’ deferred tax assets. Under this hypothetical economic scenario, situations include...
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GSE Credit Box Hardly Budged in 2Q16

August 10, 2016
John Bancroft
The share of refi loans with scores of 740 or higher edged up from 57.8 percent in the first quarter to 61.6 percent in the second.
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It’s Summer Vacation Time, but Mortgage Applications are Going Strong

August 10, 2016
Sherry Muolo
The VA share of new loan applications improved to 13.0 percent from 12.1 percent the week prior.
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Loan Broker Employment Best Since the Financial Crisis

August 10, 2016
Paul Muolo
UWM is beginning to see some of its competitors pick up their game...
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Short Takes: Brokers are Hot, Bankers Not So Much / Help Wanted: Senior Mortgage Execs / Flagstar Boosting Retail / The Cost Savings From Closing a Jumbo Conduit / New NPL Auction from Fannie Mae

August 10, 2016
Brandon Ivey and Paul Muolo
Senior-level mortgage executives are in demand these days, according to one recruiter...
Read More
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