In early July, the FHFA unveiled the new MI eligibility standards, which propose – for the first time – risk-based capital rules that are tied to a measurement called “available assets.”
Warehouse lending consultants told IMFnews that many originators turned profitable after the first quarter, but are not making as much as they earned this time last year.
Fannie Mae and Freddie Mac are losing ground in the unusually soft mortgage market of 2014, according to a new analysis by Inside The GSEs. The two companies accounted for 66.3 percent of new single-family mortgage-backed securities during the second quarter of this year That was down from 73.8 percent for all of 2013 and represented the lowest combined GSE share of new MBS since the second quarter of 2011.
A fair question to ask is this: If DOJ goes after Mozilo, why not go after the owners of Ameriquest/Argent which created so much of the faulty subprime product that Greenwich securitized?
The head of a group of disenfranchised Fannie Mae and Freddie Mac investors has called on Federal Housing Finance Agency Director Mel Watt to end conservatorship of the two GSEs and undo what stakeholders consider the illegal government “net worth sweep” of Fannie and Freddie profits. Tim Pagliara, executive director of Investors Unite, followed Watt to Atlanta to seek a meeting with and to put pressure on the director to acknowledge the concerns of GSE shareholders.
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