To promote the fungibility of the uniform MBS, Fannie and Freddie will more closely align how they evaluate their seller/servicers.

The nonbank accounted for 7.7% of originations in the first quarter of 2020.

Ronald McCord, the former president of First Mortgage, faces 24 counts of bank fraud, money laundering and making a false statement.

Fannie economists predict a shocking 25.3% drop in second-quarter GDP, including a 36.2% free-fall in residential fixed investment.

Freddie promotes Donna Corley as EVP of single-family business.

Wells Fargo and JPMorgan Chase, the top banks in mortgage banking income, saw significant quarter-to-quarter volatility in 2019. Flagstar pulled itself out of a rut in the fourth quarter but still posted a hefty net mortgage banking loss for the year. (Includes data chart.)

The liquid assets required of nonbank seller/servicers will rise from 3.5 basis points to 4.0 bps for the unpaid principal balance of their enterprise servicing.

A federal court sentenced Shirene Hernandez, a former Fannie Mae sales representative, to more than six years in prison for bribery.

The auction includes six pools, ranging in size from $394.5 million to $665.2 million. The loans are serviced by Wells Fargo.