Fannie Mae

Browse articles from IMFnews related to Fannie.

September 22, 2017 - IMFnews

What We’re Hearing: A GSE ‘Black Swan’? / More TBTF, Perhaps / A Dividing Issue: Zero Capital / Will Mnuchin Cut a Deal with Speculators? / Waiting on a Ginnie Mae Nominee (Still) / A New Business Home for Anne Canfield

An impossible scenario, one that keeps Federal Housing Finance Agency Director Mel Watt up a night? We shall see...

September 22, 2017 - IMFnews

Trade Groups Tell Treasury and FHFA: Legislation for GSE Reform, No Recap and Release

In a research note published Friday, Cowen & Co. notes the letter is an indication these groups believe allowing the GSEs to retain capital will prolong the conservatorships.

September 21, 2017 - IMFnews

15 Groups Tell Treasury and FHFA: Legislation to Reform the GSEs, Not Some Recap Plan

The signors add: “We … believe the debate over recapitalizing a broken system distracts from the critical structural issues that Congress must address to ensure that the federally supported secondary market serves key, bipartisan objectives.”

September 20, 2017 - IMFnews

Short Takes: Did Wells Dodge a Bullet on its CFPB Fine? / A ‘Recommendation Memorandum’ / No Effect on Wells’ Mortgage Business / Subject the CFPB to Appropriations / Stearns Goes ‘Digital’

Wells Fargo could have been subject to a whopping $10 billion fine...

September 19, 2017 - IMFnews

Short Takes: About Those GSE Dividend Payments… / The Man Wants to be Paid / Record Attendance at ABS East / LendingTree Buys Snap Capital / Webster Gets a New President

In other words, the FHFA will once again order the dividends to be paid to Treasury. Right?

September 19, 2017 - IMFnews

New Poll: Industry Says Let Congress Fix the GSEs

Congress is not expected to produce workable GSE legislation until next year and even then, other issues – tax reform, another run at fixing “Obamacare,” for example – could kick the can down the road.

September 19, 2017 - IMFnews

House FSC to Work on GSE Reform Again. (Hint: It Looks like the PATH Act)

At the ABS East show, Rep. Barr didn’t provide further details about Republican plans for the GSEs…

September 18, 2017 - IMFnews

Short Takes: MBA Wants a Change in HUD Reinspection Policies / Having an FHA Commissioner Might Help / Montgomery Resigns from Radian Board / DBRS Updates Due Diligence Criteria / A New Hire for Mortgage Network

The FHA nominee had been a Radian director since 2012…

September 18, 2017 - IMFnews

Prestwick Selling $1.8 Billion Bulk Fannie/Ginnie MSR Portfolio

The Fannie balance of the pool accounts for $1.33 billion of the receivables.

September 15, 2017 - IMFnews

Mortgage Securitization Rate Sinks in 2Q17

Roughly 27.3 percent of Fannie Mae, Freddie Mac and Ginnie Mae loans pooled in securities in the first half of 2017 were a month old at issuance, and 6.4 percent were two or three months old.

September 15, 2017 - IMFnews

Treasury Taking Meetings on GSE Issues, Including Zero Capital and Multiple Guarantors

Rob Zimmer, a former Freddie Mac executive: “Republicans run this town, obviously, and there is no way they want to be identified as the party of taxpayer bailouts for large financial institutions.”

September 14, 2017 - IMFnews

Senior Democrats on Senate Banking Committee Implore Treasury, FHFA to Allow GSEs to Build Capital

The correspondence, which includes the signature of ranking minority member Sherrod Brown, D-OH, notes: “We are simply requesting that the GSEs be permitted to build capital...."

September 14, 2017 - IMFnews

Agency-Jumbo Production Sagged in 2Q17 While Non-Agency Sector Kept Growing

But the non-agency jumbo market saw a healthy 18.6 percent increase in originations…

September 12, 2017 - IMFnews

On a Roll: Fourth Consecutive Monthly Gain for GSE MBS Issuance

Fannie and Freddie lost some market share during the second quarter, according to preliminary figures compiled by Inside The GSEs.

September 11, 2017 - IMFnews

Short Takes: More MSR Growth for PennyMac / PHH Ready for Massive Stock Buyback / Former FHLB Dallas Officials Indicted / Former Fannie Mae Exec Hisey Lands at Stewart

The U.S. Attorney for the Northern District of Texas indicted the former CEO of the Federal Home Loan Bank of Dallas, along with two other former bank employees, for fraud.

September 11, 2017 - IMFnews

International Monetary Fund Favors a Fannie-Freddie Merger

The IMF, of course, has no jurisdiction whatsoever over Fannie Mae and Freddie Mac…

September 11, 2017 - IMFnews

Hurricane Harvey Puts 300,000 Loans on the Line. Estimates Begin on Irma Damage

Black Knight estimates there are 1.18 million mortgaged properties in FEMA-designated disaster areas influenced by the hurricane...

September 11, 2017 - IMFnews

Appraisal Groups Tell Congress to Make GSEs Do Away with Waivers

As a result, they urge the GSEs to do away with the appraisal waiver program for now…

September 8, 2017 - IMFnews

What We’re Hearing: Treasury Mulls Plans for Fannie and Freddie / $200 Billion Should Do It / GSE Hearing Nixed / Milken Ramps Up Its Involvement / How Low Might the 10-Year Fall / Warren Likes Real Estate and Gets a Mortgage Company Too

In case you’re wondering the concept of GSE “recap and release” is not under consideration...

September 8, 2017 - IMFnews

Hurricane Damage: Despite Consumer Moratoriums, MBS Issuers Must Keep Making Payments

Just because consumers might be off the hook for at least 90 days on making their payments, MBS investors will want their money, noted on observer…

September 8, 2017 - IMFnews

Agency MBS Issuance Up Again in August as Refi Business Shows Renewed Strength

The agencies saw an 8.6 percent increase in refi volume from July to August, roughly triple the growth rate of the purchase-money business…

September 7, 2017 - IMFnews

ICBA Says Government Seizure of Fannie and Freddie was ‘Questionable at Best’

ICBA’s comment marks the first time that a major industry trade group has questioned putting Fannie and Freddie into conservatorship…

September 7, 2017 - IMFnews

Purchase-Mortgage Blowout: 2Q17 Highest Volume Since 3Q06

Purchase loans accounted for 67.5 percent of the estimated $455.0 billion in first-lien mortgage originations during the April-June cycle...

September 6, 2017 - IMFnews

Short Takes: Loan Closings Cancelled in Parts of FL as Hurricane Approaches / A Rarity: Podium Readies Jumbo MBS Backed by Reverses / Applications and Refis on the Rise / Freddie Exec Takes CIO Job with Subservicer Cenlar

As another hurricane approaches the U.S. more loan closings are cancelled...

September 6, 2017 - IMFnews

Nine Years Ago, Fannie and Freddie Were Taken Over. Treasury is Now $82.3 Billion Richer

Investors Unite speaks for GSE shareholders – except senior preferred holders (the Treasury Department)…

September 1, 2017 - IMFnews

What We’re Hearing: A $1 Billion Capital Buffer for the GSEs? / What Would the Minimum Be? / Government Assistance for Ginnie Issuers / A Status Report from Cornerstone Mortgage in Houston / Richard Cordray: Still There

CFPB's Cordray clerked for both Robert Bork and Anthony Kennedy...

September 1, 2017 - IMFnews

Mortgage Reinsurance Market Shows Great Promise, but Risks Abound

Reinsurers coming late to the feast might find slimmer pickings as pricing continues to tighten in the sector…

September 1, 2017 - IMFnews

Agency-Backed CMO Production Slumped in 2Q17

Wells Fargo’s CMO business was down 36.7 percent from the first half of 2016…

August 31, 2017 - IMFnews

Short Takes: Navy Federal Would Like to Purchase Servicing Rights / An MSR Offering from Prestwick / Fed Okays Sterling’s Purchase of Astoria / A Clarification / New Hires for Castle & Cooke

The Fed just greenlighted a bank M&A deal...

August 30, 2017 - IMFnews

GSE Single-Family MBS Business Edged Higher in July

In July, the top five GSE loan sellers were Wells Fargo, Chase, Quicken, PennyMac and AmeriHome Mortgage…

August 29, 2017 - IMFnews

A One-Year Moratorium on Mortgage Payments in Hurricane-Ravaged Counties?

Cowen & Co. predicts that storm damage caused by the hurricane could “encourage” lender consolidation…

August 28, 2017 - IMFnews

Fannie Mae Tallies Loans Affected by Hurricane Harvey: $5.12 Billion and Counting

A spokeswoman for Fannie said, “While the situation on the ground remains uncertain, areas impacted are subject to change…”

August 28, 2017 - IMFnews

Short Takes: Cherry Creek Mortgage Chairman Resigns. Why? / Healthcare Benefits Extended to Same Sex Couples / Hurricane Harvey, the Aftermath / Cancelling Closings as the Storm Approached / A New High for Home Prices

The day before, Cherry Creek Mortgage issued a statement saying it would extend health care benefits to cover same-sex couples “effective immediately.”

August 28, 2017 - IMFnews

Former FHLB President Pollock: Bailout of GSE Sub Debt was a Bad Idea

Pollock criticized the Treasury Department’s decision to pay off $13.5 billion of subordinate GSE debt at the start of the conservatorships nine years ago...

August 28, 2017 - IMFnews

GSE Loan Buybacks Edge Higher in 2Q17; Legacy Issues Fading Slowly

The vast majority of Fannie buyback activity involves loans sold into MBS issued since 2015…

August 25, 2017 - IMFnews

Prestwick Readies $532 Million Fannie/Ginnie Bulk MSR Portfolio for Auction

The weighted average servicing fee is 34 basis points, the delinquency ratio 3.13 percent.

August 23, 2017 - IMFnews

Short Takes: Mortgage Apps Decline / What to do About Fannie and Freddie? / A Fast Grower, Guild has its Eye on M&A / Walter Bolting Reverses / A Promotion at UWM

A fast grower, Guild Mortgage is open to buying other shops...

August 21, 2017 - IMFnews

Short Takes: Treasury Secretary Mnuchin is Staying Put / Bet on an ‘Administrative’ Fix for the GSEs? / Mr. Cooper is Born / But Alice Cooper is #1 / Lima Hires Capital Markets Chief

Confused about Mr. Cooper? Just make out the check to Nationstar Mortgage...

August 21, 2017 - IMFnews

Bank Investment in MBS Sets a New Record: $1.799 Trillion

Total bank investment in residential MBS rose by $36.28 billion during the second quarter…

August 21, 2017 - IMFnews

Watt Hinted He Won’t Alter the Dividend Payment Soon but That Doesn’t End the Debate

One lobbyist told Inside Mortgage Finance this week he believes that Watt eventually will strike a deal on the issue with Treasury, but he was uncertain how it might play out.

August 18, 2017 - IMFnews

What We’re Hearing: The Nation’s Volume Leader in the ‘New’ Nonconforming Is… / Sales Executive Departs / Don’t Stop Believin’ (in Fannie and Freddie)? / ‘Contract Law’ and GSE Common Shares / A Legislative Snafu Called Donald Trump?

According to our calculation, Fannie common now trades at $2.80, a 20.17 percent improvement since the close of 2Q17, while Freddie’s value rose 21.08 percent to $2.70.

August 18, 2017 - IMFnews

Phoenix Capital Busy with MSR Auctions

The average loan balance on the $779 million MSR package is $241,000…

August 18, 2017 - IMFnews

Those Incredibly Shrinking GSE MBS Portfolios – a 5.3 Percent Decline in 2Q17

Today, Fannie and Freddie hold $13.50 billion of subprime and Alt A MBS. At the end of 2005, they had a staggering $258.67 billion in such assets.

August 17, 2017 - IMFnews

Short Takes: Changes for the HARP Program / Still Eligible: 143,000 / But Shrinking / Citadel Servicing Crosses $1B Mark / A New CIO for Freddie Mac

The FHFA estimates that roughly 143,000 GSE borrowers are still eligible to use the HARP program.

August 17, 2017 - IMFnews

Government-Insured Mortgages the Biggest Gainer in 2Q17

Roughly 71.0 percent of second-quarter primary-market originations of first-lien mortgages were purchase loans, the highest reading in years…

August 16, 2017 - IMFnews

Alternative Credit Scores for GSE Loans will Have to Wait for the Single-Security Project

Mel Watt called the credit score explorations one of the “most difficult” evaluations he’s taken on as FHFA director.

August 16, 2017 - IMFnews

Fannie, Freddie Earnings Could Hit $10 Billion in 3Q17 Thanks to RBS Settlement

If the $10.4 billion figure proves accurate it will result in another hefty dividend payment by Fannie and Freddie to the holder of its senior preferred stock: the U.S. Treasury.

August 15, 2017 - IMFnews

Short Takes: What REITs and Fannie & Freddie Have in Common / Replacing One Burden with Another / Who is Western Bancorp? / PHH’s Warehouse Providers / A New Hire for LenderLive

A higher dividend than what Fannie and Freddie pay?

August 15, 2017 - IMFnews

RE Crisis Post-Mortem: Home-Price Depreciation a Bigger Driver of Defaults than Unemployment

S&P focused on mortgages originated between the second half of 2005 and the first half of 2008.

August 15, 2017 - IMFnews

LIBOR is Being Phased Out. A Big Deal or Ho-Hum?

Fannie Mae and Freddie Mac are well aware of the issue and have leeway to replace LIBOR with another benchmark when the time comes, industry officials said.


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