Browse articles from IMFnews related to Freddie.

November 21, 2017 - IMFnews

A 40-Page GSE ‘Draft’ Bill is Circulating in the Senate

As press time, details were sketchy, but lobbyists who claim to have knowledge of the draft caution there are several “different pieces” to the measure...

November 20, 2017 - IMFnews

Short Takes: Still Hiring: Nonprime Lenders / Wiped Clean; Franklin Codel’s LinkedIn Profile / HUD Gives $5B in Hurricane Aid to Texas / Freedom Mortgage Shines / A Rare MBS from AMIPM

Franklin Codel's LinkedIn profile had been wiped clean...

November 20, 2017 - IMFnews

PHH Hires Former Freddie Mac Executive, CSS Consultant Celini as SVP

Celini also worked for Sun National and Ally Bank, formerly known as GMAC Bank…

November 20, 2017 - IMFnews

GSE Sellers Take Baby Steps on Risk – but at a Glacial Pace

This most-risky bucket accounted for just 2.6 percent of refi business in the third quarter...

November 20, 2017 - IMFnews

Phoenix Announces Two ‘Flow’ MSR Auctions

The Fannie/Freddie receivables would come primarily from California, Florida and Texas.

November 17, 2017 - IMFnews

What We’re Hearing: A Mystery (for Now): Franklin Codel’s Dismissal at Wells / A Major Changing of the Guard is Afoot / Rick Glass: Only the Strong Will Survive / Mick, Tell us How You Really Feel About the CFPB / Fannie & Freddie CEOs Seem Content…

A major changing of the guard is now afoot in the mortgage industry...

November 17, 2017 - IMFnews

Fannie and Freddie Approved to Re-Enter LIHTC Market for First Time in 10 Years

Freddie said it plans to close its first investment in January 2018.

November 17, 2017 - IMFnews

Pending Tax Reform has MBS Between ‘A Rock and a Hard Place’

If substantial tax reform is enacted, it would likely lead to rising expectations about growth and inflation, leading to a selloff in rates…

November 17, 2017 - IMFnews

Watt Likely Won’t Act on Zero Capital Buffer This Year, but Consensus Forming on a GSE Bill?

Republicans are reportedly on board with the federal MBS guarantee but reluctant to backstop future guarantor entities…

November 17, 2017 - IMFnews

Mortgage REITs Boost Residential MBS Holdings in 3Q17

MBS-investing REITs boosted their holdings by 10.1 percent on a sequential basis…

November 16, 2017 - IMFnews

Conventional-Conforming Market Tapped into Surging Refi Business in 3Q17

Roughly $269 billion of conventional-conforming loans were originated from July through September, according to Inside Mortgage Finance...

November 14, 2017 - IMFnews

Short Takes: FHA MMIF Results Due Wednesday / Fannie’s Foray into Construction-to-Perm? / Production Chief Departs / Drones Being Used by Some Mortgage Servicers / A Loss for Invitation Homes

However, a source familiar with the matter stressed that the GSE is merely considering a construction-to-perm product and nothing more.

November 13, 2017 - IMFnews

KBW: A Change to the GSE Dividend Sweep ‘Unlikely’

KBW estimates that if the corporate tax rate falls, Fannie and Freddie, combined, would have to fork over to Treasury an estimated $13 billion to $19 billion…

November 10, 2017 - IMFnews

As Promised: If the GOP Lowers the Corporate Tax Rate, the GSEs are in Deep Trouble

“A significant reduction in the corporate tax rate would result in a significant net loss, and that could result in a loss for the year,” said Fannie CEO Timothy Mayopoulos…

November 10, 2017 - IMFnews

What We’re Hearing: The Wilbur Ross Story / Tapping Mortgage Expertise / Enter the Phrase ‘Legal Proceedings’ and See What You Find / David Kittle and the Ginnie Mae Job / Reverse Lender has Record Month / A New Hire for Better Mortgage

You might say that Wilbur Ross got out of Ocwen while the getting was good...

November 9, 2017 - IMFnews

Short Takes: $250K a Year in Severance for Impac President / Capital One will Remain in Multifamily / Goldman Wins Fannie Mae Bid / Quicken Gets Some Company at the Top / A New Hire for AmeriFirst

Although Capital One is exiting single-family lending, the bank will continue to provide “specialized" multifamily financing...

November 8, 2017 - IMFnews

Treasury’s GSE Plan Still a ‘Work in Progress.' No Balance Sheet Allowed?

A guarantee fund would be developed to cover losses.

November 7, 2017 - IMFnews

Short Takes: The ‘Think-Tank’ GSE Hearing / More Red Ink for AAMC / AmeriSave’s New President / A Servicing Milestone for Flagstar / Equity Prime Hires New CFO

Tuesday’s panel discussion has been dubbed the “think tank” hearing because it includes representatives from the Urban Institute, the Milken Institute and American Enterprise Institute…

November 7, 2017 - IMFnews

Long-Time GSE Critic Peter Wallison Doesn’t Disappoint: Kill Fannie and Freddie, He Urges

According to Wallison: “There is nothing about the way the government has managed the housing finance system for the last 50 years that would remotely recommend a continuing government role.”

November 3, 2017 - IMFnews

A Spike in Freddie MBS Issuance Helped Steady Volumes for October

But while Fannie production slumped 11.5 percent, Freddie saw a robust 23.9 percent jump in new issuance in October…

November 2, 2017 - IMFnews

Short Takes: GSE Reform? What’s the Rush? / Calabria, an FHFA Director Candidate? / Capping the Mortgage Interest Deduction at $500,000 / TCF to Buy Nonbank Mortgage Firm

Mark Calabria is not exactly a fan of the GSEs...

November 1, 2017 - IMFnews

Fannie Mae Reports Strong Earnings for 3Q17, but $1B in Hurricane-Related Charges; Large Exposure to ‘Maria’

Fannie Mae CEO Timothy Mayopoulos added: “Damage from the storms will be with us for a long time.”

November 1, 2017 - IMFnews

Short Takes: Fannie Mae Readies 3Q17 Results / Should be a Good Quarter / Another Reverse Lender Hits the Auction Block? / Rejection Rates for FHA, VA Loans / A New Hire for Stearns

Look for another reverse mortgage lender to hit the auction block...

November 1, 2017 - IMFnews

Rep. Hensarling to Retire. Speculation Immediately Begins on FHFA, CFPB Jobs

“The other natural job would be as CFPB director,” the Cowen analyst continued. “That said, Hensarling has shown much greater interest in housing finance…”

November 1, 2017 - IMFnews

As Year Draws to a Close, a Rush to Get Servicing Packages Sold

There continues to be some nervousness about VA receivables because of streamlined refinancings, although regulators are trying to curb abuses in the program.

October 31, 2017 - IMFnews

Short Takes: Keeping an Eye on GSE Hurricane Charges / The Tax Bite / In the End, Treasury Wins No Matter What / More Delinquency Data / A Promotion at Norcom Mortgage

You might say that in the end, Treasury cannot lose when it comes to the GSEs...

October 31, 2017 - IMFnews

Prime Non-Agency MBS Issuance Catches Fire in October

In the Chase MBS, 44.3 percent of the loans were originated by correspondents…

October 31, 2017 - IMFnews

Thanks (In Part) to Legal Settlement, Freddie Mac has Blowout 3Q17: $7.19 Billion Profit (Pre-Tax)

Freddie Mac set aside almost $1 billion in reserves for "recent hurricane activity."

October 30, 2017 - IMFnews

Thanks to Legal Settlement, Freddie Mac has Blowout 3Q17: $7.19 Billion Profit (Pre-Tax); Almost $1B in Hurricane-Charges

In late December, Freddie will make its regular quarterly dividend payment to the U.S. Treasury, which holds its senior preferred shares. When it does, most of the $4.67 billion in net earnings will be swept into the general fund.

October 30, 2017 - IMFnews

Short Takes: No Retained Portfolio for the GSEs? / A 33 Percent Chance for a Bill / Have a Mortgage Question? Ask a Real Estate Agent First / MIAC Selling Whole Loans / PrimeLending Picks SoCal Manager

No GSE-retained portfolios in Treasury's plan?

October 30, 2017 - IMFnews

FHFA Adds Language-Preference Question to New Loan Application Despite Industry Opposition

The wording of the language-preference question first tells borrowers that their loan transaction is likely to be conducted in English but gives them the option of selecting one of six languages: English, Chinese, Korean, Spanish, Tagalog, and Vietnamese…

October 27, 2017 - IMFnews

What We’re Hearing: The Upper Hand on GSE Reform? / Jeb Hensarling, a Candidate for the FHFA Job? / Safe and Sound REITs / A Nice Return on Unsecured Consumer Loans / Dave Stevens Successor? / A Good Year for the Trade Group

But what about Watt? His term as director of the Federal Housing Finance Agency ends in early 2019...

October 27, 2017 - IMFnews

Fannie, Freddie Credit-Risk Transfer Deals Slowed in Third Quarter

CRT deals may be popular with legislators since they “de-risk” Fannie and Freddie, but over the long haul the transactions reduce profits for the GSEs, or so critics have charged…

October 27, 2017 - IMFnews

Momentum Building for Housing-Finance Reform? Yes, No, Maybe?

Joshua Rosner, managing director of Graham Fisher & Co., said his discussions with Trump officials and members of Congress suggest that the administration’s reform principles won’t be released until early next year…

October 26, 2017 - IMFnews

Servicing Brokers Show Concern on Fannie Mae Plan to Enter the MSR Marketplace

One dealmaker, requesting anonymity, added: “Why not just sell servicing on eBay? There are reasons the market for servicing is wired as it is.”

October 25, 2017 - IMFnews

Coming Soon: The Trump Administration’s ‘Principles’ on GSE Reform

Look for any principles on GSE reform to avoid specificity so as not to box-in legislation being drafted in Congress…

October 24, 2017 - IMFnews

Short Takes: ‘Zero Capital’ Gets Zero Mention by FHFA Director Watt / Fannie CEO None-Too-Thrilled with ‘Colonial Style’ / Flagstar Cites Sweet Profits from Homebuilder Finance / No Housing Bubble, Says Arch / Capstead Gets a New CFO

Homebuilder finance is booming at Flagstar Bancorp...

October 24, 2017 - IMFnews

Large Banks Show Tepid Interest in GSE Servicing Market

The megabanks shed a combined $48.75 billion of GSE servicing during the third quarter…

October 23, 2017 - IMFnews

Short Takes: MBA’s Stevens to the Troops: You’re Living Under a False Sense of Security / Trump’s Nominee to Head the FHFA? / How Basel Treats Servicing Assets / Executive Bolts PNC Bank for NewDay

MBA chief Dave Stevens: “What happens if the president nominates a new [FHFA] director who thinks the government role in mortgage finance is too large and wants to scale it back?"

October 23, 2017 - IMFnews

Want GSE Reform? The Senate Better Get Moving – And Soon

Cowen: “We continue to believe the Senate Banking Committee must release a legislative plan in 2017 for Fannie and Freddie if it is to be enacted in the 115th Congress.”

October 23, 2017 - IMFnews

Incenter, Phoenix Hit the Market with Bulk MSR Offerings

According to the offering circular, delinquencies on the Ginnie Mae package total 8.19 percent...

October 23, 2017 - IMFnews

Agency Servicing Transfers Caught Fire in 3Q17, Reshaping MSR Market

In the third quarter, Movement Mortgage was the top seller of MSR assets via the coissuance market…

October 20, 2017 - IMFnews

What We’re Hearing: A Good (but Not Great) Year About to End / A Top-10 Lender for Sale? (No) / Will Mel Watt Clear the Air on ‘Zero Capital’? / The Freddie Mac Rumor / Ocwen’s Future May be Now?

Plenty of executives we’ve spoken to the past few months believe the industry is in for a considerable spate of M&A in the year ahead. Then again, we’ve heard that prediction before...

October 20, 2017 - IMFnews

Agency MBS Trading Had Strong Month in September

For traders, the good news is that MBS issuance increased to $357.2 billion in the third quarter, the strongest performance of the year...

October 20, 2017 - IMFnews

GOP Critical of Fannie/Freddie QM Exemption

FHFA chief Mel Watt acknowledged the advantage provided to GSE-eligible mortgages...

October 20, 2017 - IMFnews

SEC Provides Redwood with No-Action Letter Regarding Investments in GSE Credit-Risk Transfer Deals

The GSEs are also working toward issuing credit-risk transfer deals as real estate mortgage investment conduits, which would allow REITs to hold more of the assets.

October 19, 2017 - IMFnews

Freddie Mac Pushes Back Against Criticism on Its Use of Equifax

However, officials at Freddie said the claims regarding the GSE and Equifax lacked context.

October 19, 2017 - IMFnews

Agency Servicing Continued to Grow in 3Q17, Megabanks Show Little Interest

The four megabanks reduced their agency mortgage servicing rights by $59.6 billion during the third quarter…

October 18, 2017 - IMFnews

Short Takes: The Little Guy Gets a G-Fee Break / A Coming Spike in G-Fees? / More Financial Maneuvers by Radian / A Hot Streak for Non-Agency Prime MBS / A Stock Market Crash Warning from Treasury Secretary Mnuchin

Might this suggest that g-fees charges could spike next year when zero hour comes?

October 18, 2017 - IMFnews

Arch Continues Re-Insurance Transactions Started by UG; New Issuance the First to Receive a Rating

Mortgages delivered to the GSEs with an unpaid principal balance of $29.30 billion are included in the transaction.


With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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