Mortgage bankers originated $54 billion of jumbo loans in the first quarter, a slight decline from the prior period but the second best showing in two years.

Private capital could better find its way back into the mortgage market, with decreasing costs for taxpayers and borrowers, if Fannie Mae and Freddie Mac would offer risk-sharing options to lenders at the “point of sale,” according to the Mortgage Bankers Association. The MBA first floated the concept several weeks ago at its secondary market conference in New York. In a white paper released this week, the group called on the Federal Housing Finance Agency to require the two government-sponsored enterprises to accept loans with deeper levels of credit enhancement in exchange for reductions in guaranty fees and other loan-level charges. “This new structure would bring...

The FHFA IG acknowledged the regulator's progress in stabilizing Fannie Mae and Freddie Mac but said the agency “can do more to enhance its role as conservator and regulator.”

Loan sellers and servicers doing business with Freddie Mac will be charged a so-called low-activity fee for not meeting new quotas for loan deliveries and mortgage servicing beginning next year, according to a policy change announced recently by the government-sponsored enterprise. Freddie Mac said it will assess lenders a fee of $7,500 if they fail to deliver mortgage loans with an aggregate principal balance of more than $5 million or service mortgages for the GSE with an aggregate balance of at least $25 million. Freddie will begin monitoring loan sales and servicing beginning this year and imposing the low-activity fee on slackers on Jan. 1, 2014. There were at least 277 lenders that sold...

The lack of a specific computer code for reporting short-sale mortgage transactions is creating numerous false reports of foreclosure on consumer credit reports, inhibiting their re-entry into the housing market, according to lawmakers on Capitol Hill and consumer advocates. Earlier this month, Sen. Bill Nelson, D-FL, dispatched letters to the Federal Trade Commission and the Consumer Financial Protection Bureau citing the “disturbing” consumer credit reporting practice of lumping short sale within the same industry code as a foreclosure in consumers’ credit reports. “If a short sale is reported...

Thomas Popik, research director for Campbell Surveys, said first-time buyer demand appears to be leveling off due to changes at the FHA.

FHA jumbo lenders produced an estimated $5.44 billion in loans over $417,000 during the first three months of the year.

Sen. Warner recently paid a visit to Freddie Mac employees but offered little information about his pending GSE bill.

Fannie and Freddie were ordered by their regulator to sell illiquid securities. But those bonds may fetch a nice price in the secondary market.

Are Fannie Mae and Freddie mac sitting on huge untapped profits?