Browse articles from IMFnews related to Freddie.

May 24, 2018 - IMFnews

Senators Divided on Prospects for Housing-Finance Reform Legislation this Year

Sen. Bob Corker, R-TN, said passing legislation this year “evidently is not going to happen” and his sense is that Fannie Mae and Freddie Mac will stay in conservatorship “for some time.”

May 23, 2018 - IMFnews

Watt Concerned Long-Term Conservatorship Hinders GSE Management, Plans

Mike Crapo, R-ID, chairman of the committee, said housing finance reform is one of his top priorities.

May 23, 2018 - IMFnews

FHFA Working to Reduce Differences in GSE Prepayment Speeds in Preparation for Uniform MBS

The FHFA said reviews have helped align GSE prepayment speeds in the past few years while helping to make sure MBS investors’ interest are considered in the equation.

May 21, 2018 - IMFnews

Treasury Official Sees Major Impact from Single Security

A key Treasury Department official suggested that issuers of non-agency MBS may someday participate in the common securitization platform being developed by Fannie Mae and Freddie Mac.

May 16, 2018 - IMFnews

Mortgage Performance Improves in First Quarter; But FHA/VA Delinquencies Increase on an Annual Basis

The higher delinquency rates on FHA/VA loans are likely tied to hurricanes that struck select markets last fall.

May 16, 2018 - IMFnews

Coming Uniform MBS Could Have Side Effects for Fannie Mae

Fannie disclosed the single-security “may adversely affect our financial results and contribute to declines in the liquidity or market value of our MBS.”

May 15, 2018 - IMFnews

Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer

Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...

May 15, 2018 - IMFnews

GSE Share Prices Weaken; KBW: Risk-Sharing Deals Hurt Profits

KBR points out that risk-sharing results in premiums being shifted away from Fannie and Freddie to providers of credit risk protection.

May 15, 2018 - IMFnews

Flagstar Packages GSE-Eligible Mortgages on Investment Properties into Non-Agency MBS

Packaging the loans into a non-agency MBS suggests that Flagstar expects better execution in the non-agency market than from delivering the mortgages to Fannie Mae or Freddie Mac.

May 15, 2018 - IMFnews

Secondary Market Activity Strong in 2017

Originators also sold $483.13 billion of loans to unaffiliated buyers outside of the agency market…

May 14, 2018 - IMFnews

Phoenix Ready to Auction MSR Flow Package

Much of the product is projected to come from California, Florida and Texas.

May 14, 2018 - IMFnews

Fannie: Appraisals Still Needed Despite Technological Advances

Fannie Mae's Renee Schultz said the decision to offer property inspection waivers is probably the longest running pilot the GSE has ever had…

May 14, 2018 - IMFnews

GSE Credit Window for Purchase Loans Opened Slightly in 1Q18

In the first quarter, 12.61 percent of purchase loans sold to the GSEs fell into the highest risk category…

May 11, 2018 - IMFnews

What We’re Hearing: Anxiety Rising Regarding GSE Reform / Higher G-Fees? No More Cash-out Refis? / What Mick Mulvaney Might Do if He Headed the FHFA / Mulvaney’s PADs / Layoffs at Impac

Surely, conservatives are applauding the way Mulvaney is trying to remake the Consumer Financial Protection Bureau...

May 11, 2018 - IMFnews

Collateral Backing Freddie LOC $5 Billion to $7 Billion in Size?

A former Fannie executive (pre-federal takeover) said that when he worked at the GSE, “We looked at doing this, but were told it wasn’t in the charter and so we didn’t proceed.”

May 11, 2018 - IMFnews

REITs Pull Back from MBS Investments Ever So Slightly

It’s not clear if the REIT sector will amp up its participation in credit-risk transfer deals offered by Fannie Mae and Freddie Mac…

May 9, 2018 - IMFnews

Short Takes: Caliber Brings Ginnie MSR Deal / The Nation’s Highest Paid Loan Broker: Doug Lebda ($59M) / Ex-Fannie Exec a Candidate for FHFA Job? / The PHH Head Count

It was a nice pay check last year for LendingTree founder and CEO Douglas Lebda...

May 8, 2018 - IMFnews

MIAC Offers Up $2.2 Billion of Servicing Rights

The seller of the portfolio will provide full representations and warranties.

May 7, 2018 - IMFnews

Freddie Now Extending Lines of Credit to Nonbanks. The Collateral: Mortgage Servicing Rights

One former Fannie Mae executive was critical of the effort, calling it “mission and charter creep.”

May 7, 2018 - IMFnews

Arch Capital CEO Defends IMAGIN Pilot Program

The MI executive said there are a number of misconceptions about the program…

May 7, 2018 - IMFnews

Figuring Out Who Might Succeed Mel Watt as FHFA Director – It’s Complicated…

Also, there’s a growing fear that in the absence of Congressional action, a free-market leaning Treasury Department, in tandem with a Trump-appointed FHFA director, might alter the way GSEs operate...

May 4, 2018 - IMFnews

What We’re Hearing: The New MBA CEO Will Be… / A ‘November Surprise’ for GSE Reform? / Is it 10 Years Already? / What ‘Mr. Market’ Thinks of Fannie and Freddie / GSE CRT Deals, a Great Return? / NewDay in the Clear?

Here’s a prediction: GSE reform legislation will only pass if, and when, the Democrats take control of the House, Senate and the White House.

May 4, 2018 - IMFnews

$5.1 Billion of GSE Mortgage Servicing Rights Up for Grabs

The average loan size is $285,547 with the average LTV coming in at 70.0 percent.

May 4, 2018 - IMFnews

Price War on GSE Guarantee Fees Ended in Early 2018 in Response to FHFA Directive…

Freddie CEO Donald Layton told Inside MBS & ABS that implementation of the FHFA directive “has largely been complete.”

May 4, 2018 - IMFnews

Finally, Agency MBS Issuance Heads North After a Weak 1Q18

Freddie Mac had the biggest monthly increase at 22.9 percent…

May 3, 2018 - IMFnews

NAR Sees $6.5B in GSE Profits and Asks the FHFA for Reductions in G-Fees, More

The NAR is hoping that a cut in g-fees (and LLPAs) ultimately will be passed down to consumers – who buy homes from NAR’s members.

May 3, 2018 - IMFnews

Fannie Mae Has a Blowout 1Q18, Will Make a $938M Dividend Payment to Treasury

Come June, Fannie Mae will cut a new dividend check to Uncle Sam...

May 2, 2018 - IMFnews

Short Takes: What’s in a Name? / First, We Change the Name in the AP Style Book / CRL Wants FHA Changes / Fannie Tech Official Departs for Vendor

CFPB Acting Director Mick Mulvaney: “I don’t know why we call it the CFPB; that is not the name of the organization..."

May 2, 2018 - IMFnews

GSE-Eligible Loans in Non-Agency MBS Seen as More Risky…

Due to temporary standards established by the CFPB, mortgages eligible for sale to the GSEs are treated as qualified mortgages even if they have higher debt-to-income ratios that would otherwise make them non-QMs…

May 1, 2018 - IMFnews

Short Takes: Freddie Mac Multifamily Continues to Shine, but… / UWM Rolls Out New Website / Seed Money / Nationstar Looking at a Large MSR Markup? / Mulvaney: I’m Not Running a Yelp / New Hires for Freddie, Angel Oak

Not too long ago, UWM rolled out a $500,000 grant program designed to allow LOs to start their own loan brokerage firms...

May 1, 2018 - IMFnews

Freddie Posts Strong 1Q18 Profit Thanks to G-Fee Income, Gains from Derivatives (and No More DTA Hits)

Even though the GSE posted a strong profit, it saw MBS issuance fall 37.2 percent in the first quarter...

May 1, 2018 - IMFnews

The GSE Reform Bust Blues: Worrying About Mel Watt’s (Potential) Successor at the FHFA

There’s been speculation that when the Trump administration picks Watt’s successor, one of the first things that person might do is impose a loan-size purchase limit on the two government-sponsored enterprises.

May 1, 2018 - IMFnews

The Nonbank Share of GSE Servicing Now Stands at 37.5 Percent – and Growing

Matrix Financial Services is another nonbank rapidly climbing the GSE servicing ranks…

April 30, 2018 - IMFnews

Freddie Posts Strong 1Q18 Profit Thanks to G-Fee Income, Gains from Derivatives (and No More DTA Hits)

In the first quarter of 2018, Freddie issued $63.9 billion of single-family MBS, a 37.2 percent sequential drop...

April 30, 2018 - IMFnews

Freddie Rolls Out New Low-Downpayment Mortgage

HomeOne will be available beginning July 29…

April 30, 2018 - IMFnews

Agency Servicing Transfers Slowed in Early 2018

In 1Q18, the top three coissuance sellers of servicing rights were Fairway Independent Mortgage, Finance of America, and Movement Mortgage.

April 27, 2018 - IMFnews

What We’re Hearing: GSE Reform? How About 2021? / The Return of Ed DeMarco? / No Political ‘Protection’ for Fannie and Freddie / RMS Scores a Repo Line from Barclays / Bucking the Production Trend: Home Point / New Hires for Plaza Home

Mel Watt has roughly eight more months in office, but already industry lobbyists and GSE watchers are playing “guess who the next FHFA director might be.”

April 27, 2018 - IMFnews

Commercial Mortgage Securitization Starts Strong in 2018 – Compared to 1Q17

The agency share of securitized multifamily mortgages has been high since 2008…

April 25, 2018 - IMFnews

Sen. Crapo Says GSE Reform Still Possible in This Congress (You Heard That Right)

The senator disagreed with comments made earlier in the day by HUD Deputy Secretary Pam Patenaude, who said there aren’t enough legislative days left...

April 24, 2018 - IMFnews

Short Takes: In Service of Fannie, Freddie and the Common Good / Fannie Ponies up to the REITs / Amazon a Bank? Good Luck with That / NYDFS Investigates RTO / FofA Hires loanDepot Manager

A new policy change implemented by Fannie Mae will allow REITS, come May 1, to start investing in the GSE’s Connecticut Avenue Securities risk-transfer deals.

April 24, 2018 - IMFnews

Stars May be Aligned for Strong Profits at Fannie and Freddie

Both GSEs likely will be “winners” when it comes to hedging their derivative positions simply because interest rates were higher at March 31 compared to yearend.

April 19, 2018 - IMFnews

Phoenix Selling a Large Bulk MSR Portfolio. Bid Deadline: May 1

All of the receivables were originated through the retail channel…

April 19, 2018 - IMFnews

FHFA Under Pressure to Act More Like a Bank Regulator with Fannie & Freddie

Republican congressmen generally agreed with the IG’s recommendations and raised additional concerns about mission creep at Fannie and Freddie…

April 19, 2018 - IMFnews

Nonbanks Continue to Gobble Up More of the Agency Servicing Market

Nonbank servicing of agency MBS has nearly doubled since March 2014…

April 18, 2018 - IMFnews

Short Takes: FHFA IG Issues Heavily Redacted Report on GSE Cybersecurity / Ditech Worries about Cybersecurity / IBM Says Nothing About Seterus (Again) / What’s in a Title? Off with Their Heads!

As a practice, IBM rarely says a word about Seterus...

April 18, 2018 - IMFnews

Strong 1Q Earnings for MGIC, but NIW Declines; Freddie’s IMAGIN Pilot Gets a Mention…

In 1Q18, MGIC wrote $10.6 billion of new MI policies compared to $12.8 billion in 4Q17 and $9.3 billion in the first quarter of last year.

April 17, 2018 - IMFnews

Short Takes: Bank of America Kisses Mortgage Banking (Reporting) Goodbye / When MSR Cash Flow Becomes ‘Immaterial’ / The Eye of the Beholder / Tossing Mortgage Stuff Overboard / Redwood on an MBS Hot Streak / Leaving loanDepot for Impac

Is Bank of America doing a slow fade on mortgages?

April 16, 2018 - IMFnews

Short Takes: Watt Looks Back / Will Trump Shock the Mortgage Industry and Give Him Another Term? / LenderLive Buys Vendor, More Deals in the Works? / A New Director for Freddie Mac

Watt’s term expires in early 2019. President Trump is not expected to nominate him to another term. Then again...

April 16, 2018 - IMFnews

Early 2018 Brings More Volatility to GSE Single-Family Rivalry

In early 2018 both GSEs were under orders from the Federal Housing Finance Agency to set g-fees that meet a “minimum return on equity…”

April 16, 2018 - IMFnews

Pershing Square Doubles Down on its GSE Bets

In the 2017 annual report, Pershing Square lists Fannie and Freddie common among its “losers…”


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