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Volume 17 - Number 24

December 1, 2017

Downloads Available: GSE Repurchase Activity by Quarter: 1Q13-3Q17


Buyback Activity Jumps Higher At Freddie, Slows at Fannie

A tiny portion of loans sold into Fannie Mae and Freddie Mac mortgage-backed securities trigger a buyback demand from either of the GSEs, and in most cases lenders are able to avoid an actual repurchase or indemnification. Lenders repurchased or provided other indemnification for $260.12 million of home loans during the third quarter of 2017, a 6.4 percent increase from the prior period, according to an Inside The GSEs analysis of quarterly disclosures made to the Securities and Exchange Commission. During the same period, Fannie and Freddie issued $223.6 billion of new single-family MBS. The third-quarter spike in buyback activity came all on the Freddie side of the market.

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%