While banks have put an emphasis on originating jumbo mortgages for portfolio, the uptick in total mortgages outstanding was largely driven by originations of agency mortgages.
In the latest year-end closeout of buyback deals before the ball drops on 2013, Flagstar Bancorp announced late Monday that it has entered into an agreement with Freddie Mac to “resolve substantially” claims that the bank sold faulty mortgage loans to the GSE between 2000 and 2008.
Two Harbors' recent move to gain access to the Federal Home Loan Bank of Des Moines through an insurance affiliate “will add a dedicated funding source for Two Harbors, and while limitations and restrictions will apply, it should alleviate some market concern regarding the potential for declining liquidity in the repo market.”
Fannie Mae announced Monday morning it has reached a $591 million agreement with Wells Fargo to resolve repurchase requests on certain loans originated prior to 2009.
Year-over-year through October 2013, the CoreLogic House Price Index appreciated more than 12 percent nationwide, with prices nationally now 16 percent above the low in the fourth quarter 2011, according to CoreLogic’s December MarketPulse report released Monday.
Freddie Mac reported new buyback demands on $3.3 billion of mortgages during the third quarter, a stunning 31 percent increase from the previous period.
Mel Watt said he will formally announce the delay in higher LLPAs and g-fees after he is sworn in on Jan. 6, the same day he will resign his House seat.
While the jumbo MBS market has all but ground to a halt in recent months, industry analysts expect that issuance will resume at some point early next year, but the 2014 forecast is dicey. Some $12.23 billion in jumbo MBS was issued through three quarters in 2013. The market hasn’t seen much activity in the final months of the year due to a lack of demand from investors and continued appetite from bank portfolios. A number of industry analysts expect...
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