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GSEs Spent $1 Billion-Plus on Vendors Last Year?

March 18, 2013
Paul Muolo
Fannie Mae and Freddie Mac and spending a ton of money each year on outside contractors, including technology firms, attorneys and accountants.
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Citibank Hikes Repo Line to PennyMac

March 18, 2013
Paul Muolo
Citibank continues to finance PennyMac and its affiliates. The bank recently increased a repo line it had with the publicly traded REIT.
Read More

Short Takes: New York AG Schneiderman and Other AGs Want DeMarco Replaced Now / Federal Reserve Banks Tapped for CFPB Expenses / Hallmark Enters Wholesale Arena / Two New Wholesale AEs for 360 Mortgage

March 18, 2013
Paul Muolo and Thomas Ressler
Nine Attorneys General, unhappy with the pace of loan modifications, are calling for the immediate dismissal of acting FHFA director Edward DeMarco.
Read More

Sources: FHFA Blocked Fannie Tax Deferral Which Could’ve Topped $60 Billion

March 18, 2013
Paul Muolo
Fannie Mae could be in line to book $60 billion in assets, money that could be counted as net worth and change its immediate financial outlook.
Read More

Former ASF Members, Including Wells Fargo, Working on New Trade Group

March 15, 2013
Brandon Ivey
Several members that recently bolted from the American Securitization Forum are forming a new trade group.
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Vote Scheduled for Tuesday on Nomination of Richard Cordray to Head the CFPB

March 15, 2013
Thomas Ressler
On Tuesday the Senate Banking Committee will hold a vote on the nomination of Richard Cordray to head the CFPB. Does this mean the GOP is warming up to him or is something else afoot?
Read More

Are the Loan Modification and Due Diligence Sectors Toast? / MBS Supply Barely Grows, the Federal Reserve Continues to Hog it Up / The Fannie Mae Earnings Mystery / A Penalty of $7,500 per Mortgage? / Daurio Still Working on Subprime Capital Raise

March 15, 2013
Improving loan quality is sparking a major shake-out in the due diligence sector. Can jumbo production and MBS save the day? Meanwhile, the supply of MBS expanded slightly in the fourth quarter.
Read More

Agency Jumbo Volume Tops Record: Inside Mortgage Finance Tally

March 14, 2013
John Bancroft
Not only was the jumbo market on a roll last year but the GSEs were major players, according to new figures compiled by Inside Mortgage Finance.
Read More

Points-and-Fees Legislation Would Supplant CFPB Definition

March 14, 2013
Thomas Ressler
Among other things, the bill removes from the calculation of fees and points Fannie Mae and Freddie Mac loan level price adjustments.
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New Bill Bans G-Fee Hikes From Offsetting Government Spending

March 14, 2013
Charles Wisniowski
Proposed legislation would ban the use of guaranty-fees to pay for non-housing federal expenditures.
Read More
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