“Any future announcement will be made in conjunction with stakeholders to minimize volatility in the MBS market,” Ginnie Mae said, emphasizing that no decision has been made on the issue.
There is no mention in the SunTrust filing how much HUD/FHA might receive. A spokesman for the bank declined to provide a number to Inside Mortgage Finance.
Despite continuing growth in purchase-mortgage production, Fannie Mae and Freddie Mac saw a marked decline in their overall business during the third quarter of 2013, according to a new ranking and analysis by Inside Mortgage Finance. The two government-sponsored enterprises securitized $284.9 billion of single-family mortgages during the third quarter, a 15.6 percent drop from the previous three-month period. It marked the lowest quarterly production for the GSEs since the second quarter of last year and it was attributable to a sharp drop in refinance activity. Fannie and Freddie securitized...[Includes three data charts]
Large lenders appear to be coping better with the partial federal government shutdown, but that doesn’t mean the megabanks aren’t worried about the situation. According to interviews conducted by Inside Mortgage Finance, lenders big and small are adjusting the way they conduct business in the primary and secondary markets in the wake of the government shutdown, now in its second week. Wells Fargo and JPMorgan Chase, the largest correspondent buyers of mortgages, are waiving...
The top five FHA funders – Wells Fargo, Quicken Loans, Freedom Mortgage Corp., Bank of America and Flagstar Bank – saw their combined originations decline by 5 percent.
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