Private mortgage insurer Essent Guaranty has announced an enhancement to its master policy for mortgage insurance that would help reduce lender exposure to rescission and unpaid MI claims. Dubbed “Clarity of Coverage,” the enhancement is a written assurance added to the master policy that MI coverage will not be...
Fannie Mae and Freddie Mac continue to inch toward profitability in a market that remains dicey, tentative and uneven – all while navigating between escalating dividend payouts to the Treasury Department and a steep drop in their need for additional capital infusions. Over the last 12 months, the two GSEs have seen...[Includes one data chart]
The Federal Trade Commission has announced the appointment of Edward Hassi as chief litigation officer for the agency’s Bureau of Competition. He replaces J. Robert Robertson, who left the agency in 2010 to return to private practice. Hassi is formerly a partner at the Washington, DC, law firm O’Melveny & Myers, where he served...
Fannie Mae, Freddie Mac and the Federal Home Loan Banks all recorded significant declines in new debt issuance during 2010. The GSEs collectively issued $3.454 trillion in new debt during 2010, a decline of 25.3 percent from the previous year. New issuance effectively just replaced...[Includes one data chart]
Fannie Mae and Freddie Mac purchases of distressed loans from mortgage-backed securities nearly offset the run-off of the GSEs’ retained MBS holdings in 2010, according to a new Inside The GSEs analysis. Fannie and Freddie held...[Includes one data chart]
H.R. 463 has been introduced in the House of Representatives to extend the Freedom of Information Act to Fannie Mae and Freddie Mac during periods when they are in conservatorship or receivership, as they are now. Rep. Jason Chaffetz, R-UT, who introduced the bill, noted that...
Fannie Mae and Freddie Mac played huge roles in the surge of refinance business that lifted up the mortgage market at the end of 2010, according to a new Inside the GSEs analysis. The two GSEs knocked out $351.6 billion in mortgage-backed securities during the fourth quarter, a 39 percent increase from the previous quarter. That lifted...[Includes one data chart]
Maryland. Fannie Mae has announced an increase in attorney’s fees for non-judicial foreclosures for properties located in Maryland. For loans referred to an attorney on or after Feb. 1, the maximum allowable attorney’s fees for legal work related to non-judicial foreclosures will...
California remained the biggest source of new single-family mortgages for Fannie Mae and Freddie Mac during 2010, according to a new special report, GSE Market Profile: 2010, from Inside Mortgage Finance Publications. A total of $223.7 billion of home loans on California properties were securitized by the two GSEs, accounting for... [Includes one data chart]
Fannie Mae and Freddie Mac processed a surge in mortgage-backed securities issuance during the fourth quarter of 2010, but current indicators suggest the production boom is already fading. The two GSEs issued $331.5 billion in single-family MBS during the final three months of the year, a 32.6 percent increase over the third quarter. It was...[Includes one data chart]
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