Fannie Mae is set to "give back" $50.6 billion to the U.S. Treasury by June 30, thanks to stellar earnings and accounting treatment of deferred tax assets.
Total primary mortgage insurance coverage provided by private MIs fell 6.5 percent to $50.44 billion in the first quarter, a figure that includes HARP loans.
Roughly 75 percent of bank loan officers cited put-back risk by Fannie Mae and Freddie Mac as an important factor limiting their current ability or willingness to approve home-purchase loans.
Besides entering the servicing arena, Two Harbors Investment Corp. is building an originator network to issue non-agency jumbo mortgage-backed securities on its own.