GSE purchase-mortgage business cooled off, falling 4.9% from the previous month, but refi volume jumped 13.3% to $70.5 billion in November.

Ed Pinto: Owners of GSE common have no right to expect a bailout.

What’s so interesting about the Sterling disclosure is that it comes from a bank. For the most part, depositories have shied away from non-QMs unless it’s jumbo product made to wealthy individuals…

To back up his claims, the FHFA chief cited statistics on loan acquisitions by Fannie and Freddie over the past eight months.

In 3Q19 – the first full quarter under the new UMBS regime – the Freddie discount fell to just 1 basis point…

Other matters on the government’s priority list: setting a commitment fee, resolution of the QM patch, and “any other similar changes that could impact the GSE footprint.”

While production at the two government-sponsored enterprises rose a combined 6.7% for the month, hitting $117.55 billion, Ginnie issuance was off 7.3% from October.

Renzi spent a large chunk of his career at GMAC, finishing his 23-years there as COO of ResCap and president of the mortgage division. He followed that up with a couple years as Freddie’s executive vice president for its single-family business.

Mortgage insurer Radian recently modified the severance agreements it has with certain executives, boosting termination pay to 150% from 100%. Of course, this only applies if it’s a “qualifying termination event"...

CSS is the platform created by the GSEs to develop the uniform MBS, the common security now used by the two mortgage giants...