Browse articles from IMFnews related to Freddie.

February 22, 2018 - IMFnews

PIMCO Suggests Leaving Fannie and Freddie in Conservatorship

PIMCO also believes government MBS loan limits should be based on borrower income, not housing prices…

February 21, 2018 - IMFnews

Short Takes: IU Chief Pagliara Weighs in on Supreme Court Decision / Bill Ackman is Now Underwater on his GSE Bets / NAMB Wants Ban on ‘Trigger Leads’ / Ditech Names Interim CEO but Does He Get the $5 Million?

It appears that Pershing Square is now under water on its GSE investments...

February 21, 2018 - IMFnews

A Great Time to Sell Servicing Rights: IMA, MIAC and Prestwick Launch Auctions

The MSR auction calendar is starting to look crowded…

February 20, 2018 - IMFnews

Short Takes: Why GSE Reform is Truly Dead / A Tale of Two GSEs / Common Not Doing So Well / Stearns’ Future in Servicing? / SoFi Cuts Mortgage Workers / About Those Strategic Plans…

Social Finance is cutting positions in its mortgage division...

February 20, 2018 - IMFnews

The Mel Watt Factor Looms Large as GSE Reform Sags

One trade group official said a new FHFA director might be hell-bent on reducing the federal footprint in mortgages…

February 20, 2018 - IMFnews

GSE Credit Box Continues to Loosen, but Not by Much

Borrowers with credit scores below 700 accounted for 22.03 percent of GSE purchase loans last year…

February 16, 2018 - IMFnews

What We’re Hearing: Death, Taxes and the GSEs / Sweet Tax Cows / Not a Peep Out of Pershing Square and Fairholme / The Wrath of Jeb / MSR Market Heats Up / A Huge Profit for Annaly / Citizens Bank Gets a New Mortgage Chief

Suffice to say, Fannie and Freddie are two cash cows that only a crazy person would eliminate, unless that crazy person doesn’t like money…

February 16, 2018 - IMFnews

Banks Increased MBS Holdings in Late 2017, but Individual Trends Differed

JPMorgan Chase and U.S. Bancorp each took different routes in shrinking their MBS portfolios…

February 15, 2018 - IMFnews

Short Takes: Is Mel Watt Dropping Hints? / A Utility Model for Fannie and Freddie? / Refi Applications on the Rise (Ever So Slightly) / No (Permanent) Ginnie Prez, No FHA Chief / Uber Executive’s Foray Into Mortgages

Joshua Rosner, managing director of Graham Fisher & Co., states: “This sounds like the early stages of a utility model..."

February 15, 2018 - IMFnews

At $600K a Year, Fannie Mae CEO Tim Mayopoulos is Underpaid. GSE Worries About CEO ‘Succession’ Planning

No one has suggested publicly that Mayopoulos is unhappy with his pay, but in a new 10-K filing, Fannie worries that...

February 15, 2018 - IMFnews

Freddie, Like Fannie, Sees 4Q Results Get Smacked Around Because of Tax Changes, Will Need a $312 Million Check from Treasury

Prior to release of 4Q17 results, the GSEs had an “account balance” of $103.0 billion with Uncle Sam: $291.4 billion of dividends paid to Treasury versus $188.4 billion of assistance received.

February 14, 2018 - IMFnews

Freddie's 4Q Results Get Smacked Around Because of Tax Changes, Will Need a $312 Million Check from Treasury

All totaled, the new tax law will result in Treasury – which owns the senior preferred stock of the GSEs – forking over $4.01 billion to aid Fannie and Freddie...

February 14, 2018 - IMFnews

Short Takes: Arch has Some ‘Fairly Well Developed’ Plans / Auditing the FHA MMIF / New Residential May Become a Player in Ginnie MSRs / Consumer Advocates Not Happy / Top VA Official Departs Agency for PenFed

Look for New Residential to become a buyer of Ginnie Mae servicing packages...

February 14, 2018 - IMFnews

New Tax Law Blows a Hole in Fannie Mae’s 4Q17 Results, FHFA to Ask Treasury for $3.7B in Cash to Eliminate the ‘Net Worth’ Deficit

As National Association of Realtors Vice President Joe Ventrone put it: “It’s an unintended consequence of the tax bill rather than falling into the bailout narrative.”

February 14, 2018 - IMFnews

127 Mortgage Banking Executives Sign ‘Open Letter’ to Congress on GSE Reform

Housing finance reform legislation is being worked on in the House and Senate but has yet to be formally introduced.

February 14, 2018 - IMFnews

Why Not Make the FHLBanks MBS Guarantors Too?

Under this arrangement, the FHLBanks would be “jointly and severally liable” for the obligations of any single-family guarantor formed under the new system…

February 13, 2018 - IMFnews

New GOP Tax Law Blows a Hole in Fannie Mae’s 4Q17 Results, FHFA Expected to Ask Treasury for $3.7B in Cash to Eliminate the ‘Net Worth’ Deficit

The DTA hit Fannie took and the resulting net loss was fully expected and likely won’t cause an uproar on Capitol Hill. However, one lobbyist quipped: "Ah, the first taxpayer bailout of a large financial institution since the Great Recession."

February 13, 2018 - IMFnews

Short Takes: The Trump Budget and the GSEs (Not So Good) / No More GSE Money for Affordable Housing / Treasury Wants to ‘Right Size’ Federal Housing Programs / Cuts in Store for the CFPB? / Arch Posts a Strong 4Q17 Profit

The Treasury Department's goal is to right-size federal housing programs...

February 12, 2018 - IMFnews

Trump Budget: DTA Hits Mean Treasury Draws for Fannie and Freddie. White House Wants to Cut Contributions to the Housing Trust Fund

Freddie Mac's Treasury draw is estimated at $400 million...

February 12, 2018 - IMFnews

Housing Advocates Worried about Sen. Corker’s GSE Reform Draft

The Center for Responsible Lending and other groups said the Corker draft threatens access, affordability and market stability…

February 9, 2018 - IMFnews

What We’re Hearing: America, a Good Mortgage Customer? / Higher Rates, but How Much Higher? / Mortgage Bulls / Three Former Clayton Executives Launch Due Diligence Firm / Santander’s Warehouse Chief Departs / Mel Watt’s Successor Might…

The new game in town is figuring out who will succeed Mel Watt as director of the Federal Housing Finance Agency...

February 9, 2018 - IMFnews

Agency MBS Production Down a Modest 6.9 Percent in January. Turbulence Ahead?

January volume was the lowest monthly total since May 2017…

February 8, 2018 - IMFnews

Freedom Mortgage Buys $25 Billion of Servicing Rights from Stearns Lending

In the summer of 2015, The Blackstone Group bought a controlling interest in Stearns.

February 8, 2018 - IMFnews

Government and Jumbo Sectors Took the Biggest Lumps in 4Q17 Lending

The conventional-conforming market held up relatively well in the fourth quarter, with origination volume easing by just 0.7 percent…

February 7, 2018 - IMFnews

Short Takes: The FHFA Version of Mick Mulvaney / Political Appointees at the FHFA? / Waiting on Hensarling’s GSE Draft / A Strong Profit for Genworth / Reverse Lender Goes Forward

Rep. Hensarling, a Republican from Texas, has yet to unveil a legislative blueprint…

February 7, 2018 - IMFnews

MBA Chairman Motley Hopeful that HUD Will Act Soon on FHA Clarifications

The trade group chief said uncertainty still exists around FHA loan level certifications…

February 7, 2018 - IMFnews

Freddie Mac Looks to Carve Out New Niche for Specified Pools

Mortgages with low loan balances appeal to investors because of their lower prepayment risk…

February 7, 2018 - IMFnews

Retail Loans Less Risky in Agency Market

Although Freddie Mac had a higher average credit score than its rival GSE, Fannie Mae had slightly lower average DTI and LTV ratios…

February 6, 2018 - IMFnews

Short Takes: What Stock Market Correction? / Bond Prices? / Fretting Over Fannie-Freddie Common / The GSE Message from Jeb and Steve / BlackRock Likes Genworth / New Penn Gets a New President / FSR Chief Pawlenty Departs

The price of Fannie Mae and Freddie Mac common is getting smacked around...

February 6, 2018 - IMFnews

Chairman of House Financial Services Subcommittee Pondering GSE Reform

MBA’s Dave Stevens worries about what might happen to the mortgage market under a Trump-appointed FHFA director…

February 5, 2018 - IMFnews

Short Takes: Ginnie is Good, but is it That Good? / Brunts Bolts Freddie for USB / Moody’s Downgrades New Rez, Citing Reliance on Subs / The Wild Ride of the 10-Year Treasury / New Mortgage Chief at SunTrust

On Friday, Moody’s downgraded the issuer rating of New Residential Investment Corporation...

February 5, 2018 - IMFnews

Fannie’s Re-entry into the LIHTC Market: $100 Million for Affordable Rentals

The Raymond James Affordable Housing Fund is part of the GSEs’ effort to provide capital for affordable rental housing and underserved markets.

February 2, 2018 - IMFnews

NAR Wants FHFA to Reduce G-Fees, LLPAs

The NAR request comes at a time of rising interest rates…

February 2, 2018 - IMFnews

GSE Credit-Risk Transfers Slowed Significantly in 4Q17

Fannie and Freddie issued just $2.01 billion of structured credit notes during the fourth quarter, a sharp 44.5 percent drop from the previous period…

February 1, 2018 - IMFnews

Trump White House Working on a ‘Short List’ to Replace FHFA Director Mel Watt?

Calabria is a former director of financial regulation studies at the Cato Institute, a conservative think tank that would like to do away Fannie and Freddie…

February 1, 2018 - IMFnews

Housing Finance Reform Waits for the Democrats to Show Up. (Don’t Hold Your Breath)

Bill Maloni, a retired Fannie executive who’s been tracking the reform debate for years, believes the Corker bill, if enacted as is, eventually will place the secondary market in the hands of the megabanks.

January 31, 2018 - IMFnews

Corker’s GSE Bill Raises a Host of Questions. Five or Six MBS Guarantors Need to be Up and Running For it to Work

The FHFA would be tasked with maximizing profits on any asset sales by Fannie and Freddie, according to the Corker bill…

January 30, 2018 - IMFnews

GSE Reform Draft (#29) Lays Out a New Mortgage Market with a Federal Guarantee but Private Capital; FHFA and Ginnie in Charge; Treasury Can’t Sell GSE Stock

Treasury would be barred from selling or disposing of “any senior preferred shares, any interest in the warrants, any common shares acquired upon the exercise of the warrants, or any other equity interest that were acquired pursuant to the Senior Preferred Stock Purchase Agreement.”

January 30, 2018 - IMFnews

Short Takes: Mnuchin Says Treasury Remains Committed to GSE Reform / The 30-Year FRM Must Survive / More Private Capital, Yes / Thomas Marano’s New Problem to Solve: Walter / After 25 Years, Exec Bolts PHH for Home Point

Mnuchin said the 30-year FRM cannot survive without Fannie and Freddie...

January 29, 2018 - IMFnews

New Milken Institute Report: The ‘Protected’ GSE Duopoly Must End

The authors note that 90 percent of Fannie/Freddie MBS trading occurs in the TBA forward market.

January 29, 2018 - IMFnews

MGIC and NMI Restrict Loans with DTIs North of 45 Percent

MGIC said the origination of such loans accelerated last summer when Fannie Mae eased guidelines on loans with 45 percent and above DTI.

January 26, 2018 - IMFnews

What We’re Hearing: When the GSE Status Quo Ends / Burn This / Peter Wallison for FHFA Director? / Painful Memories at MGIC (The First Cut is the Deepest) / A Spot Check on Mortgage Applications / A Promotion at WFG National Title

As for the FHFA position, several trade group chiefs fear that once Watt departs, the FHFA will be put in the hands of a Mick Mulvaney-type...

January 25, 2018 - IMFnews

Short Takes: You Cannot be a Guarantor and a Lender / Trade Groups on the Same GSE Page / NY Lender Opens New Office in NJ / A Strong Profit for Old Republic / DocMagic Reaches a Milestone

The Community Mortgage Lenders of America is also against the concept of guarantors being lenders or having lending affiliates.

January 25, 2018 - IMFnews

Refinancings Boost GSE Volume in 4Q17

Growth was strongest in the wholesale-broker channel…

January 25, 2018 - IMFnews

MBA’s Prediction on GSE Reform: the Legislation will do ‘No Harm’ to Fannie and Freddie

In a statement issued to Inside Mortgage Finance, Sen. Mark Warner, D-VA – a key player in the process – said he is still interested in the topic, noting the panel wants a...

January 25, 2018 - IMFnews

Home Lending Tapered Off in 4Q17, but Full Year Better Than Expected

Residential lenders funded $1.810 trillion of home mortgages in 2017, beating expectations…

January 24, 2018 - IMFnews

Short Takes: What if a ‘Conservative’ Ran the FHFA? / Maybe GSE Loan Limits Should be Lowered / Erbey Selling Ocwen Shares / The New Fed Chief and MBS Sales / English Update / A Chalupa with that MI Policy?

Selling shares in Ocwen Financial: Bill Erbey...

January 24, 2018 - IMFnews

GSE Servicing Market Became More Top-Heavy in Fourth Quarter

Chase Home Finance still held second place in the GSE servicing arena, though its portfolio has been shrinking slightly…

January 23, 2018 - IMFnews

Short Takes: An Ugly Few Months for Fannie, Freddie Common / Canary in a GSE Coal Mine: Layoffs at Pershing Square / GSE DTA Charges Coming Soon / Arch Cautious on NJ, CT / Hamilton Hires Ex-Warehouse Exec

Pershing Square plans to cut almost one-fifth of its staff. One of the casualties: Ackman’s personal driver…

January 22, 2018 - IMFnews

Phoenix Capital, Prestwick Out with New MSR Deals

Several other MSR packages are expected to hit the market in the coming weeks…


How many new retail loan officers (net) is your shop looking to hire in the first quarter of 2018?

1 to 10. We’re being careful.
11 to 30. We’re feeling slightly bullish.
31 or more. We’re in expansion mode.
None. We’re staying right where we are, for now.
We’re cutting back.

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