Browse articles from IMFnews related to Freddie.

November 15, 2018 - IMFnews

Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS

If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.

November 15, 2018 - IMFnews

JPM Packages Jumbos with Relatively High LTV Ratios in Unique MBS

Moody’s Investors Service said 47.0 percent of the dollar volume of the loans in the MBS were underwritten by United Shore…

November 14, 2018 - IMFnews

Short Takes: MMIF Audit Due Thursday / Good News Expected but no FHA Premium Cut / Trades Voice Support for Kraninger at the CFPB / A Promotion at Stewart Title

The groups expressed their view that Kraninger has the ability to lead and manage the CFPB and protect the financial interest of consumers.

November 14, 2018 - IMFnews

1,400 Stakeholders Contacted as Part of GSE UMBS Conversion

Fannie and Freddie and their joint venture, Common Securitization Solutions, will implement the SSI and issue the first UMBS on June 3 of next year…

November 14, 2018 - IMFnews

Goldman Preps Large Non-Agency MBS Backed by Seasoned Mortgages Acquired from a ‘GSE’

Loans in GSMBS Trust 2018-RPL1 were acquired from a government-sponsored enterprise, though Fitch didn’t identify which GSE.

November 13, 2018 - IMFnews

Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official

Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.

November 13, 2018 - IMFnews

KBW Raises Earnings Estimates on Fannie and Freddie, Questions CRTs

As of Sept. 30, Fannie and Freddie had some form of risking sharing on 38 percent to 42 of their guaranteed portfolios, respectively.

November 12, 2018 - IMFnews

Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending

United Wholesale Mortgage continues to hire...

November 12, 2018 - IMFnews

Odds of GSE Reform May Not Have Changed Much

Gone from the Senate, via retirement, is Sen. Bob Corker, R-TN, a moderate Republican who was a proponent of reforming the secondary mortgage market…

November 12, 2018 - IMFnews

GSE Credit Box Opened Slightly Wider in 3Q18

The dollar volume of low-score purchase loans increased by 29.8 percent from the second to the third quarter, while total GSE purchase business went up 23.6 percent.

November 9, 2018 - IMFnews

What We’re Hearing: The ‘Hensarling Effect’ / Team Trump, Not Congress, Will Reshape the Fannie and Freddie / Timing? / Selling Servicing Rights to Unleash Revenue / Ocwen’s Head Count

The first move expected is a possible lowering of GSE loan limits...

November 9, 2018 - IMFnews

Single-Security Transition is on Schedule, but Some Investors May Prefer One GSE Over the Other

The grand concept behind the single security is that MBS issued by Fannie and Freddie will be fully fungible and interchangeable.

November 9, 2018 - IMFnews

Agency Single-Family MBS Production Softened in October as Purchase Market Deflated

Fannie, Freddie and Ginnie issued a combined $98.03 billion of single-family MBS last month, a 5.1 percent drop from September…

November 7, 2018 - IMFnews

Short Takes: GSE Oversight Hearing Delayed Yet Again / Coming in 2019? / Maxine Water’s GSE Reform Bill? / Bermuda Insurer Partners with Radian / Ocwen’s New Name? Maybe Newco? / PrimeLending’s New Hire

Will Rep. Maxine Waters tackle GSE reform?

November 6, 2018 - IMFnews

Short Takes: Calabria for the FHFA Job? / Egenhoefer’s New Gig? / Ocwen’s Share Price Gets Clocked / WAMCO Prepares EC MBS / Invitation Homes’ SFR Inventory / Fast-Growing Servicers

Among the nation’s top 20 servicers at Sept. 30, Freedom Mortgage had the largest increase its MSR balances...

November 5, 2018 - IMFnews

Short Takes: The Election Day Crystal Ball and the GSEs / One More Try at a GSE Bill? / Hensarling Wants to Bury the GSE Model / John Britti’s Extra Pay / A New Texas Branch for Waterstone

On Friday, long-time GSE critic Rep. Jeb Hensarling, R-TX, took one more rock to Fannie and Freddie...

November 2, 2018 - IMFnews

What We’re Hearing: The Strange Case of Fannie Mae and Freddie Mac / Pro-Pilot Programs / Warren Buffett and the GSEs / Mortgage Recruiter by Day, Opera Singer by Night / Lima One Makes its Move / Magnetar?

A huge non-QM expansion for Athas Capital?

November 2, 2018 - IMFnews

A Sequential Earnings Decline for Fannie Mae, but a Strong Profit Nonetheless

In less than two weeks, the Senate Banking Committee will hold an oversight hearing on controversial pilot programs launched by Fannie and Freddie...

November 1, 2018 - IMFnews

Short Takes: Should the GSEs Increase Servicing Compensation? / Hanging with Mr. Cooper at No. 3 / PennyMac’s Amended Repo Line / Strong Underwriting Income for Arch, KBW Likes Radian

David Fleig of MorVest: “We have numerous active conversations with clients thinking about selling MSRs and I am sure our competitors do as well.”

November 1, 2018 - IMFnews

Trump’s FHFA Appointee Expected to Curb GSE Footprint but Not Enough to Roil Housing

Eric Kaplan of the Milken Institute: “I don’t think the non-agency market is ready to absorb the market that’s taken away from the GSEs without some significant signaling in advance.”

October 31, 2018 - IMFnews

Freddie’s Layton: GSE CRT Economics Sometimes Misunderstood

Freddie CEO Don Layton said the CRT deals are “amazingly efficient…”

October 31, 2018 - IMFnews

Short Takes: Judging Risks and Rewards at Freddie / The Gift that Keeps on Giving: The Trump Tax Cut / Despite Some Losses, Mortgage Bankers Remain Liquid / An Earnings Decline at Radian / Leaving Wells Fargo for a Nonbank

Freddie Mac benefited to the tune of $200 million (pre-tax) by reducing the write-down on its net deferred tax asset...

October 31, 2018 - IMFnews

MIAC, Phoenix Capital Out with New MSR Offerings

According to the offering circular, the portfolio is top-heavy with Ginnie product...

October 31, 2018 - IMFnews

Freddie Earned $2.7 Billion (Net) in 3Q18. Treasury Will Get $2.6 Billion

Freddie said it expects to make the $2.6 billion dividend payment in December.

October 30, 2018 - IMFnews

Short Takes: Parity for the FHLBs and FanFred? / Once a Contender / Newfi and Non-QM / Strong Earnings from First American but Anxiety Too / From Alibaba to MGIC

Roughly 40 percent of Newfi Lending’s current loan volume entails the origination of mortgages that do not meet the qualified mortgage test.

October 30, 2018 - IMFnews

A Possible Problem for Ginnie: Fannie/Freddie MBS Getting an Explicit Guarantee from Uncle

Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…

October 30, 2018 - IMFnews

Fairholme Tells Investors Court Ruling ‘Should Advance’ the ‘Re-IPO’ of Fannie and Freddie

Fairholme adds: “This is good news when you count the cash that Fannie and Freddie have earned and will earn.”

October 29, 2018 - IMFnews

Short Takes: Bill Dallas Speaks / FoA’s New Reverse Product / A Blow-Out Earnings Number from Freddie? / Fannie? / No Permanent President for Ginnie, Still / Former FHLB Chicago Exec Named President of CU Mortgage Firm

On Wednesday, Freddie Mac will release third-quarter results...

October 29, 2018 - IMFnews

Prestwick Announces Auction of GSE, Private Investor MSRs

Fannie Mae receivables dominate the package at $70.9 million...

October 29, 2018 - IMFnews

A Sure Bet for the New FHFA Director: No More GSE Pilot Programs?

The fact that these initiatives were ever approved by the FHFA angered critics of the government-sponsored enterprises…

October 29, 2018 - IMFnews

MSR Transfers Boomed in 3Q18, Aided by Franklin American Sale

The top five bulk MSR transfers were led by Franklin American, followed by Stearns, loanDepot, Flagstar and United Shore/United Wholesale Mortgage…

October 26, 2018 - IMFnews

What We’re Hearing: Cut in Half, Ellie Mae’s Share Price / 1H 2019: A Challenge / Walking the Floor of the MBA Show / A Bullish Outlook for Servicing, Non-QM Lending / If Stocks Tank Further, Good Things Might Happen / High on Chris George’s ‘To Do’ List: GSE Reform

But putting the negativity aside for a minute, there are a couple of bright spots in the industry: Servicing valuations and non-QM lending...

October 26, 2018 - IMFnews

Incenter Announces Large MSR Auction

Loans from California account for the largest chunk of receivables at 18.3 percent...

October 26, 2018 - IMFnews

Freddie’s Layton: CRTs Transforming Housing-Finance System

Freddie CEO Don Layton: Some 90 percent of the credit risk on multifamily mortgages is being transferred…

October 25, 2018 - IMFnews

Short Takes: HUD Chief on GSE Reform / Carson’s Sober Take on Interest Rates / New Rez’s MSR Bet Paying Off? / In Love with a 4 Percent Mortgage / Incenter Executive Leaves for Blue Water

HUD Secretary Ben Carson had some sobering thoughts about low interest rates...

October 25, 2018 - IMFnews

Private MIs Push for More Transparency in GSE Pricing, Underwriting

While the FHFA has proposed a formal rulemaking on GSE capital, the current standard known as the conservatorship capital framework has not been made public…

October 23, 2018 - IMFnews

Senate Banking Committee Hearing on GSE Pilots is Back On – Post Election

Cowen expects the next FHFA director to either terminate the GSE pilots or let them expire...

October 22, 2018 - IMFnews

Short Takes: HUD Shows its Enforcement Stripes / Otting, the Next (Interim) FHFA Director? / Sprout Mortgage Feeds Verus Nonagency MBS / Mayer Brown Hires CMG Attorney

Otting is Comptroller of the Currency. The speculation is that he will pull a Mick Mulvaney and wear two hats for a while…

October 19, 2018 - IMFnews

What We’re Hearing: One Last Criticism from Jeb Hensarling Regarding the FHFA / In Agreement on 80 Percent / Departing Fannie, Freddie Directors May Pose a Challenge / Two Major Concerns: Originations and Profit Margins / Plaza Home Wants AEs / Bill Ashmore’s New Job?

The FHFA IG says "a number" of director positions at Fannie and Freddie are set to expire: "Changes in leadership can lead to a lack of attention to internal controls..."

October 18, 2018 - IMFnews

Agency MSR Market Grew Modestly in 3Q18 as Nonbanks Continued Their March Forward

Fun fact: Nonbanks went over the 60.0 percent threshold in Ginnie Mae market share during the third quarter.

October 17, 2018 - IMFnews

Short Takes: What Will Ben Carson Cut? / GSE DTI Ratios Too High? / A Woman May Head the FHFA / Nomura Settles with DOJ / Strong Earnings from MGIC / Needed: Some CFPB Guidance

Budget cuts coming to HUD?

October 16, 2018 - IMFnews

Short Takes: Trump’s Point Man on GSE Reform: Yank Fannie and Freddie’s Charters / New 52-Week Lows / Ginnie Issuer Gets its Ticket Pulled / Uncle Sam is Spending Too Much Money (Again) / A Name Change for Ocwen?

Meanwhile, there was chatter at the MBA convention that Ginnie Mae had just yanked the ticket of one of its MBS issuers.

October 15, 2018 - IMFnews

Short Takes: GSE Pilot Hearing Postponed / An Opportunity to Gather Intelligence? / Freddie's Qualification Tool for Self-Employed Borrowers / GSE Duty-to-Serve Updates / New Hires for ComplianceEase, Element Funding

The Senate Banking Committee's review of GSE pilot programs will have to wait...

October 15, 2018 - IMFnews

GSE Single-Family Business Up 10 Percent in 3Q18

Fannie enjoyed a 29.9 percent quarterly increase in purchase business, nearly double Freddie’s 15.4 percent gain.

October 15, 2018 - IMFnews

Incenter, Phoenix Capital Out with New MSR Auction Notices

IMA described the selling originator as an “independent mortgage banker with strong net worth...

October 15, 2018 - IMFnews

Correspondent Platforms Gain Share in 3Q18 Agency Market

The correspondent share of the market rose to 39.5 percent, the highest it has been in years...

October 12, 2018 - IMFnews

What We’re Hearing: A Cyclical Business / What Will Treasury’s Craig Phillips Say about the GSEs? / Advice From loanDepot’s Anthony Hsieh / Unsolicited Resumes from Production Employees / Jim Malloy Departs Impac Mortgage After 15 Years / PennyMac’s First CRT Deal / A New Hire at Home Point

Anthony Hsieh's advice for the mortgage industry: Start selling...

October 10, 2018 - IMFnews

Short Takes: Michael Bright, the Next FHFA Director? / Waiting on Senate Confirmation (Still) / A Former GSE Exec and The Play Set Scandal / Sears and Fairholme / HSBC Settles with DOJ / A New Hire at CMG Financial

HSBC will pay $765 million to settle charges brought by the Department of Justice...

October 10, 2018 - IMFnews

GSEs on Track to Start Issuing Single Security in June, Additional Guidance Pending…

Stephanie Miller of Fannie Mae said the GSEs are working with SIFMA on the transition to the single security.

October 9, 2018 - IMFnews

Fannie Names Former Berkshire Hathaway Executive Hugh Frater Interim CEO

The new interim CEO was an EVP at PNC Financial where he led the real estate division and was a founding partner and managing director of BlackRock...


With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

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