Freddie Mac had been lending Fed Funds (overnight loans) to Lehman Brothers since 2005. Then, in 2008, the nature of those loans changed to longer term borrowings.
Fannie Mae has yet to implement a red flag system to identify trends and data anomalies for servicer reimbursements, according to a new report from the FHFA Inspector General.
The top 20 bank and thrift mortgage servicers all reported increases in their MSR valuations, according to exclusive figures from Inside Mortgage Trends.
Despite growth in the non-agency jumbo market, primary market lenders remain focused on production that they can safely securitize through the GSEs and Ginnie Mae.
Mortgage buybacks can vary significantly among seller/servicers because its driven by business and legal processes rather than current market dynamics.
Banks and savings institutions in the second quarter of 2013 reported the lowest volume of mortgage repurchases and indemnifications since the buyback blight really bit into the industry four years ago, according to a new call report analysis by Inside Mortgage Trends. Banks and thrifts reported $2.671 billion in mortgage repurchases and indemnifications during the second quarter, the industrys lowest since the second quarter of 2009, when buybacks totaled $2.059 billion ... [Includes one data chart]