Fannie and Freddie held a combined $252 billion in Alt A and subprime mortgage assets at the end of June, down 18.3 percent from the second quarter of 2013.
Many banks are beginning to shy away from the product as the Inspector General of the Department of Housing and Urban Development and Justice Department take banks to task for underwriting flaws.
SIFMA's call for higher guaranty fees might sound like heresy in the mortgage industry, but the trade group clearly wants the non-agency market to revive.
Fannie Mae and Freddie Mac continued their conservatorship march toward smaller retained mortgage portfolios during the second quarter of 2014, with most of the focus on non-agency collateral, according to a new analysis by Inside MBS & ABS. The two government-sponsored enterprises ended June with a combined $872.7 billion in mortgage-related holdings, down 3.3 percent from the previous quarter. Compared to a year ago, their combined portfolio was down 19.7 percent. It was down 45.2 percent from the $1.592 trillion they held in the fourth quarter of 2008 shortly after the two were put in conservatorship. The biggest decline has been...[Includes one data chart]
We only bring up the “going private” issue because class action attorneys have finally woken up to the fact that Ocwen’s shares have been clobbered over the past year...