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Hey, What Ever Happened to Lower GSE Loan Limits?

October 4, 2013
Paul Muolo
Certain members of the U.S. Senate want to see some type of analysis from FHFA on what impact lower loan limits will have on the housing and mortgage markets.
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Fannie and Freddie May Have to Dial Back a Bit on Multifamily

October 4, 2013
Thomas Ressler
Fannie Mae remains on track to securitize $30 billion in multifamily loans this year, compared with nearly $34 billion in 2012, which would meet the FHFA scorecard target.
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What We’re Hearing: Sale of CashCall Falls Apart? / MBS Issuance Takes a Tumble / About That $28.6 Billion Freddie Mac DTA… / Subprime Bankers Warn on U.S. Default / Cherry Hill REIT Goes Public, Stock Falls / Mortgage Applicants Take to Craigsl

October 4, 2013
Paul Muolo
Has Paul Reddman given up trying to sell CashCall, the refi specialist? Meanwhile, MBS issuance got whacked in the third quarter.
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Non-Agency Jumbo MBS Issuance Slowed in Third Quarter

October 3, 2013
Brandon Ivey
Redwood Trust and Credit Suisse, the jumbo MBS sector’s two biggest players, slowed their securities issuance during the third quarter.
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MBA Says Government Shutdown Will Harm Rate Locks, FHA, More

October 3, 2013
Charles Wisniowski
The Mortgage Bankers Association and other industry trade groups fear that the shutdown will have a growing impact on the housing market, including FHA endorsements.
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Moody’s: More Than Half of BofA’s Foreclosure Referrals Are On Hold

October 3, 2013
Paul Muolo
Moody's, in a new report, notes that Bank of America outsources roughly 25 percent of its “early stage” collection efforts to vendors.
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GSEs Grant Limited Reprieve From Repurchases Due to QM

October 3, 2013
Thomas Ressler
However, if Fannie Mae determines through established delivery or quality-control review processes that any loan has ineligible term or amortization provisions, it will be subject to repurchase.
Read More

U.S. Debt Ceiling Cap Won’t Impede GSE MBS Issuance, But Prices Could Get Hammered

October 3, 2013
Paul Muolo
The general consensus is that despite their conservatorship status, the GSEs are still considered private companies, even though Treasury controls their senior preferred shares.
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Short Takes: There Goes the Stock Market, Maybe Jumbos Too / Oh, and the Homeownership Rate? Kiss That Goodbye Too / PennyMac Faces Stiff Competition in Correspondent / CoreLogic Sees Home Prices Rise But Offers Caution / SunTrust Cuts Buyback Deal

October 3, 2013
Paul Muolo and Charles Wisniowski
The U.S. homeownership rate fell to 63.9 percent in 2012, according to figures compiled by the Census Bureau through its “American Community Survey.” In case you’re keeping tabs, it’s the fifth year in a row that the rate has gone south.
Read More

Investor Group: Jumbo MBS Issuers Continue to “Shop” for Ratings

October 2, 2013
Brandon Ivey
Critics contend that jumbo MBS investors don’t have access to mortgage documents.
Read More
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