Ditech increased its servicing portfolio to $266.7 billion from $265.4 billion in 3Q, and said it is pursuing “potential business opportunities,” including plans to pursue more subservicing contracts.
“This was really gnarly and political,” said Redwood executive Marty Hughes. “I think the FHFA making this decision was just something that they wanted to get behind them.”
Fannie Mae and Freddie Mac continued to trim their retained investment portfolios in late 2015 with most of the focus on shrinking their non-agency MBS and holdings of their own securities. Freddie Mac’s retained mortgage portfolio declined 15.1 percent last year, ending at $346.91 billion, safely below the $359.3 billion cap set by the Federal Housing Finance Agency. The government-sponsored enterprise reduced its non-agency MBS holdings by $25.60 billion, or 38.8 percent, from its yearend 2014 level. While that included hefty declines in both subprime and Alt A MBS, the biggest decline, 41.3 percent, was...[Includes one data table]
One of those GSE watchers is Bose George of Keefe, Bruyette & Woods, who told us: “I see no reason for the administration to negotiate in any meaningful way with the plaintiffs..."