An unanticipated decline in interest rates soured the hedging bets placed by Fannie Mae and Freddie Mac during the first quarter of 2016, leading to sharply lower net income at the two government-sponsored enterprises. The two GSEs booked a combined $7.37 billion in net derivative losses for the first quarter that nearly washed out income from their core businesses. Since 2012, when the two GSEs became profitable again, they have booked huge $23.46 billion in hedging losses. “As we’ve said for over a year now, our quarterly financial results are...

The exam outlook is even worse for nonbank mortgage servicers..

When are falling rates a bad thing? Answer: When you own a ton of mortgage servicing rights.

According to figures compiled by Inside Mortgage Finance, the GSEs have a multifamily market share of 78.3 percent.

SoFi, also known as a “peer-to-peer” lender, said it admires Fannie Mae’s “commitment to technological innovation in mortgages…”

What some bank-watchers may not realize: Most depositories do not factor in personnel and other key expenses when calculating mortgage-banking income…

Walter/Ditech originated $5.0 billion of new mortgages in 1Q16, down 10.7 percent from the previous quarter.

For the past several weeks, speculation was rife that if the yield on the 10-year bond remained under 2.0 percent at March 31 Freddie might book a large hedging loss...

As a group, the 45 companies that ranked sixth through 50th had a combined portfolio of $1.668 trillion, equal to 37.5 percent of the market.

Over at Freddie Mac, the GSE did $10.8 billion in issuance for the first quarter, mostly in its K-deal program, along with its small balance program, otherwise known as “SB deals.”