Fannie Mae

Browse articles from IMFnews related to Fannie.

September 25, 2018 - IMFnews

MBS Trading Sets a New Low for the Year

The trading peak for the year came in February at $239.2 billion.


September 25, 2018 - IMFnews

Phoenix Capital Offering Fannie Mae ‘Flow’ Package

Roughly 86 percent of the mortgages are purchase-money loans...


September 24, 2018 - IMFnews

Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot

ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.”


September 21, 2018 - IMFnews

What We’re Hearing: Freddie Mac Puts on its Banker Hat / Some Interesting Policy Moves by Mel Watt / Nonbank Liquidity is a Good Thing, Right? / The Progressives v. the Traditionalists / Eat a Peach: CFPB Moves an Office to Atlanta

The idea to ban nonbanks from the FHLB system (via the captive loophole) increasingly looks like a head-scratcher....


September 21, 2018 - IMFnews

Who Needs the Fed? Plenty of Investors Willing to Pick Up the Central Bank’s (MBS) Slack

The central bank could lose its kingpin status if commercial banks continue buying…


September 20, 2018 - IMFnews

Brian Brooks, a Possible Successor to Fannie CEO Mayopoulos, Departs

Brooks was vice chairman of OneWest Bank, a depository once owned by current Treasury Secretary Steven Mnuchin.


September 20, 2018 - IMFnews

Surprise: Non-Agency Option Dings GSE Conforming-Jumbo Business

More conventional loans that fit under the GSE loan limits for high-cost markets are ending up in non-agency mortgage-backed securities…


September 19, 2018 - IMFnews

Short Takes: Freddie Talking to Potential MSR Borrowers / Fannie’s New HLTV Refi Option / Plenty of GSE-Eligible Loans in New JPM MBS / LendingTree’s $10k Prize / A New Director at Fannie Mae

On Nov. 1, Fannie Mae will begin accepting applications for its new high loan-to-value ratio refinance product.


September 19, 2018 - IMFnews

Chimera Packs GSE-Eligible Loans on Investment Properties into New Non-Agency MBS; Caliber a Top Contributor

Three nonbank lenders, all owned by PE firms, are key contributors to the deal…


September 18, 2018 - IMFnews

Watt Accuser at the FHFA Seeks Senate Hearing on Sexual Harassment Allegations

In late July, Director Watt issued a statement saying he had not “done anything contrary to law.”


September 18, 2018 - IMFnews

FHFA IG Critical of Fannie Mae Consolidation Play in Northern VA

The IG says four officials in the FHFA’s Division of Conservatorship told investigators that Fannie did not face an “action forcing” event…


September 18, 2018 - IMFnews

For Sale: Fannie Mae Bulk MSR Portfolio, Average LTV: 59 Percent

Kentucky product dominates the portfolio at 98.9 percent. Ohio is a distant second…


September 17, 2018 - IMFnews

Short Takes: MBA’s Stevens Looks Back at the GSEs (Pre-Crisis) / A No-Bid Because of FM Watch Ties / What’s FM Watch? / Sharp Elbows? / TMS Buys Two MSR Packages, Is Hungry for More / PenFed Hires USAA Exec to Run Mortgages

It may be hard to fathom, but Fannie and Freddie once played with very sharp elbows…


September 17, 2018 - IMFnews

GSE Purchase Business Up Again, but Refis Rise as Well

The refi surge may be attributable to more cash-out transactions.


September 13, 2018 - IMFnews

Short Takes: Late for an Anniversary / GSE Reform: A Solution Searching for a Problem / ClearEdge Lending Ramps Up / Warehousing the Non-QM Market / LendingTree Shareholders Not Smiling Right Now

Silvergate Bank is actively providing warehouse lines of credit to non-QM lenders and we understand that Comerica is now sticking its toe in the water…


September 12, 2018 - IMFnews

Short Takes: Wells Fargo’s (Mortgage) Job Cuts / Annaly Poised to Buy More MSRs? / FHFA Seeks Comment / Eight Consecutive Quarters of Feeling Bad About Profit Margins / PenFed Hires a TV Journalist

Annaly may use the proceeds to fund additional acquisitions of mortgage servicing rights…


September 12, 2018 - IMFnews

A Few Silver Linings in the Origination Downturn: Improved GOS, More MSR Sales

Wedbush estimates that originations will fall by 8.0 percent this year…


September 11, 2018 - IMFnews

Short Takes: What Will Become of the GSEs’ CSP? / How Much Is it Worth? / Capital One Warehouse Joins MBA / Two Utah Nonbanks Celebrate Anniversaries / PRMI Hires Former Wells Fargo LO

The nonprofit exchange must pay for any “property” associated with CSS…


September 11, 2018 - IMFnews

MIAC Offering Fannie/Freddie MSR Package

The selling institution is described as a mortgage banking firm with a west coast concentration...


September 11, 2018 - IMFnews

Many Lenders Plan on Keeping Underwriting Standards ‘As Is’

One lender confessed: “I think we’ve been too accepting of credit problems and we are going to start pulling back now…”


September 10, 2018 - IMFnews

Short Takes: Time for Executives to Consider Their Options? / Tight Profit Margins Can Lead to ‘Internal Strife’ / AO Seeks Account Executives / Analyzing the Prospects for Filling the Fannie CEO Job / Milken Institute Hires SEC Commissioner

"As a result, at this time I’m receiving a larger volume of calls from execs seeking to explore outside opportunities.” - Rick Glass


September 10, 2018 - IMFnews

Incenter, MorVest Selling Bulk Servicing Portfolios

Both these MSR portfolios have low note rates…


September 7, 2018 - IMFnews

What We’re Hearing: Ex-Goldman Partners See Gold in the Subprime Hills / Under the Radar / Strong Non-QM Volumes from Angel Oak and Citadel / The Conventional Loan of the Future: Five Percent Down at Least / DeMarco Weighs In / Signs of Overheating: Home Flipping

Former Federal Housing Finance Agency Acting Director Ed DeMarco told us the bill is a good starting point and includes language that both Democrats and Republicans can agree on...


September 7, 2018 - IMFnews

10 Years After GSE Takeover, Mortgage Execs Weigh In: Leave Fannie and Freddie Alone

Industry consultant Tim Rood said the first rule for GSE reform should be: “Do no harm.”


September 7, 2018 - IMFnews

Agency MBS Production Up Again in August. For Purchase Business, a Post-Crisis High

August often sets the high-water mark for annual purchase-loan business for the agencies…


September 6, 2018 - IMFnews

In His Waning Days as HFSC Chairman, Hensarling Introduces New GSE Reform Bill. (Yes, Really)

One housing lobbyist dismissed the bill as misguided, adding: “This is like someone laying on their death bed after drinking and sinning and finally realizing they need to get baptized.”


September 6, 2018 - IMFnews

Freddie CEO Don Layton Announces His Retirement. (Good Luck Finding a Successor)

Finding a suitable candidate could prove difficult because of a $600,000 salary cap placed on the position by Congress back in 2015.


September 6, 2018 - IMFnews

Fannie Mae Hires Ex-FGMC CEO Andy Peters as ‘Strategy Advisor’

Peters departed First Guaranty Mortgage Corp. earlier this year...


September 6, 2018 - IMFnews

First-Time Buyers Continue Gaining Share in Red-Hot Purchase Market; PMIs Step Up…

The nation’s PMIs have made a significant dent in the first-timer market, insuring a greater volume of mortgages guaranteed by Fannie and Freddie…


September 5, 2018 - IMFnews

Short Takes: That Was Then, This is Now (Fannie/Freddie) / Not Much Traction / Invitation Homes’ SFR Portfolio: 80,000 Rentals / Former FHFA Chief Nominated by Trump / A New Hire for Pavaso

Since 2012, Fannie and Freddie have been minting money...


September 5, 2018 - IMFnews

29 Trade Groups and Organizations Ask White House and Congress to ‘Cement’ GSE Progress

The letter – signed by trade groups both large and small – comes a day before the 10th anniversary of the federal takeover of Fannie and Freddie...


September 4, 2018 - IMFnews

Trades Working on a ‘Don’t Do Anything Rash’ GSE Letter to Treasury

There’s a growing concern about a potential reduction in GSE loan limits…


September 4, 2018 - IMFnews

GSE Buybacks Declined in 2Q18, but Pipeline of Pending Demands Grew

Only a trace amount – 0.5 percent – of unresolved buyback cases were related to loans purchased by the GSEs before 2009.


August 31, 2018 - IMFnews

What We’re Hearing: Fannie and Freddie, 10 Years Gone / Betting on Two Stocks for Retirement / MBA Weighs In / Housing is Elemental / Meanwhile, Back at the Ranch, An Industry Grows Concerned

Meanwhile, a dozen or so mortgage, housing and consumer groups are putting the final touches on a new letter to Treasury Secretary Steven Mnuchin...


August 31, 2018 - IMFnews

Lower GSE-Eligible Share in Latest Prime Non-Agency MBS from Flagstar

All of the loans in the deal were originated by Flagstar...


August 30, 2018 - IMFnews

MVFS Offering $1.6 Billion of GSE Bulk MSRs

In an interview this month, MVFS Executive Vice President Mark Garland described the MSR auction market as “very, very strong…”


August 29, 2018 - IMFnews

Short Takes: A ‘Significantly’ Less Liquid Secondary Mortgage Market? / In Five Years the GSE Loan Limit Would be Zero (for Example) / Origination Capacity Remains Elevated / Fannie Exec Joins RoundPoint

Origination capacity in the mortgage industry remains “elevated,” according to a new report from PiperJaffray.


August 28, 2018 - IMFnews

Short Takes: A New Origination Forecast from Freddie / Market Share Leaders in Retail and Correspondent / FHFA Seeks Comment on ‘Golden Parachutes’ / Arch’s Reinsurance Deal / Better Mortgage Hires Fed Economist

But Wells Fargo dominated in the correspondent channel with a 20.9 percent market share...


August 28, 2018 - IMFnews

CBO: U.S. Cost to Guarantee $12 Trillion in GSE MBS Over the Next 10 Years: $19 Billion

CBO projects that under current law, the share of new single-family mortgages guaranteed or held by Fannie and Freddie will slowly recede…


August 28, 2018 - IMFnews

IRS Gives GSE Single-Security Project a Boost

The tax code includes several provisions that address whether the exchange of property is subject to taxation.


August 27, 2018 - IMFnews

Short Takes: Don’t Worry About the Government / Don and Maxine, Fireworks Ahead? / Steve’s Choice / Invitation Homes CEO Takes A Leave of Absence / Customers You Never Need to Call (A Good Thing)

Cowen believes Rep. Maxine Waters will use the post to go after President Trump and his White House team...


August 27, 2018 - IMFnews

More GSE-Eligible Loans in New MBS from JPMorgan Chase

The top contributors to the MBS: Chase, AmeriHome and loanDepot…


August 24, 2018 - IMFnews

GSE Mortgage Portfolios Continued to Shrink in Second Quarter, Emphasis on Loss Mit and New Issuance

Both government-sponsored enterprises are comfortably within the maximum $250.0 billion mortgage portfolios they are permitted to have under the terms of their conservatorship.


August 22, 2018 - IMFnews

Short Takes: Celebrity in the Hunt / Ocwen Gets the ‘All Clear’ Signal from Ginnie / Oh Carol / The National Servicing Settlement – It’s a Wrap / Two Joes In Charge at Waterstone

Celebrity Financial has several M&A irons in the fire...


August 22, 2018 - IMFnews

Watt’s Accuser Sues FHFA, Wants $1 Million in Damages for Pay Discrimination

Grimes, in her complaint, is asking for a permanent injunction enjoining the FHFA from “paying female employees lower compensation than their male” counterparts for performing equal work…


August 22, 2018 - IMFnews

FHFA Pulls the Plug on Fannie and Freddie Funding Corporate SFR

Fannie Mae came under heavy criticism from certain elected officials and affordable housing advocates for extending $1 billion in financing to Invitation Home Loans, an SFR operator that’s publicly traded.


August 21, 2018 - IMFnews

Watt’s Accuser Sues FHFA, Alleges Pay Discrimination, Wants $1 Million in Damages

When bonuses and benefits are factored in, Grimes says the pay disparity totals $100,000 per year...


August 21, 2018 - IMFnews

Short Takes: Broeksmit Takes Over as MBA Chief / His Resume / Cowen: Bright, a Plus for Housing / A Possible Successor to Watt at the FHFA? / Churchill Mortgage Executive Named to CMLA’s Board

Bright has been mentioned in housing and mortgage circles as a possible successor to FHFA Director Mel Watt.


August 21, 2018 - IMFnews

Cal Realtors Ask FHFA for Immediate Halt to GSE Financing of SFR

Certain SFR operators have been criticized for gobbling up thousands of properties for corporate ownership, thus removing these units from the inventory of homes available for sale.


August 21, 2018 - IMFnews

Declining Refis Take a Bite Out of Fannie/Freddie Business

Most of the month-to-month slump was at Freddie, where MBS production fell 8.9 percent from June.


Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

vote to see results