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A 25 Percent Earnings Decline for Freddie Mac; ‘Account Surplus’ with Uncle Sam will Swell to Almost $39 Billion

August 1, 2017
Paul Muolo
Freddie expects to make a $2 billion dividend payment to Treasury – the holder of its senior preferred stock – sometime in September.
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Short Takes: Freddie’s CEO Comments on Declining Capital Buffer / This is Not Your Parent’s Freddie Mac / Hensarling Calls for Investigation into Whether CFPB Chief Violated the Law / A Strong Quarter for Arch / Poulin Rejoins Mortgage Network

August 1, 2017
Paul Muolo and Carisa Chappell
Freddie Mac CEO Don Layton: "The fundamentals are strong and residual flaws are gone..."
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JD Power: Consumers None Too Happy with Mortgage Servicers These Days

August 1, 2017
Sherry Muolo
The noted research firm found that mortgage customers feel as if their servicers are more focused on profit than giving top-notch customer support...
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FHFA Chief Mel Watt Rules Out G-Fee Cut

August 1, 2017
Paul Muolo
“Some lenders are finally showing more willingness to extend credit to borrowers..." said FHFA Director Mel Watt.
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Industry Again Calls for Delay in Implementing New HMDA Rules

July 31, 2017
Thomas Ressler
The CFPB has not yet initiated a public process to apply the balancing test to determine which of the new data will be released to the public.
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A Blowout Earnings Quarter for New Residential; REIT Continues to Buy Servicing Rights

July 31, 2017
Paul Muolo
New Residential has purchased several servicing portfolios over the past year, acquiring rights from CitiMortgage, Walter/Ditech and United Shore, among others.
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Servicing Transfers Jump 22 Percent in 2Q17 as Major Players Unload Receivables

July 31, 2017
John Bancroft
Movement Mortgage was the largest seller of MSRs through co-issuance deals…
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Additional Government Documents Unsealed in GSE Shareholder Case

July 31, 2017
Carisa Chappell
“This new trove of documents conclusively shows that the net worth sweep was designed solely to boost Treasury’s coffers and prevent the GSEs from rebuilding capital or exiting conservatorship,” said Investors Unite, a shareholder rights group.
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Fannie Expects More Business from DTI Shift

July 31, 2017
John Bancroft
Fannie said that about 3 or 4 percent of DU applications with DTI ratios ranging from 45 percent to 50 percent had been deemed ineligible because they failed the overlay test…
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Short Takes: Ginnie Loses Another One / CEO Background / From Mortgage Owner to ‘Life Coach’ / Kudos to Freedom and Fairway / A New Regional Hire for Stearns

July 31, 2017
Paul Muolo
Among the top 20 lenders in 2Q17, Fairway Independent Mortgage had the highest growth rate at 64.2 percent.
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Latest Imf News

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