Cart

Inside The GSEs

July 29, 2009

View Archived Issues

Are GSEs Doing Enough to Help the HAMP?

As the Obama administration’s highly touted program to help struggling homeowners stay in their home shows increasing signs of faltering, pressure is mounting on the mortgage industry – including Fannie Mae and Freddie Mac – to do more to support the program. Despite the 325,000 trial modifications that have been offered under the Home Affordable Modification Program, only 160,000... Read More

FHLBs Want Changes to Golden Parachute

Two of the Federal Home Loan Banks have already submitted comments on a proposed rule issued in late June by the Federal Housing Finance Agency on so-called golden parachute and indemnification payments, with one of them calling for changes that better reflect the smaller size of the Banks, not the larger institutions overseen by the Federal Deposit Insurance Corp. Drawing upon a... Read More

Fannie, Freddie Market Share Surges in 2Q09

Fannie Mae and Freddie Mac mortgage securitization programs accounted for nearly two-thirds of the big increase in mortgage origination activity during the second quarter of this year, according to a new Inside The GSEs market analysis. The two companies securitized a total of $353.9 billion of single-family mortgages in pools with an average... [Includes on graph] Read More

FRE Raises HARP Fee; FNM Speeds Effective Date

Fannie Mae and Freddie Mac have updated the guidance on their Home Affordable Refinance Program plans in support of the Obama administration’s homeowner rescue initiative to reflect the higher loan-to-value ratios that have been approved, with Freddie bumping up its delivery fees and Fannie speeding up its effectiveness date. In Freddie Bulletin 2009-20 dated July 24, the GSE indicated it... Read More

Fannie, Freddie Bested by Ginnie in Default Rates

Ginnie Mae is winding up with better default rates than Fannie Mae and Freddie Mac, due to Ginnie’s emphasis on rate reductions versus the GSEs’ preference for loan term extensions providing the superior performance, according to the Mortgage Metrics Report issued recently by the Office of Thrift Supervision and Office of the Comptroller of the Currency. The new data showed that in... Read More

FNM, FRE Insist on Appraisers With Local Expertise

Fannie Mae and Freddie Mac, in response to direction from the Federal Housing Finance Agency, last week issued new guidance on their appraisal requirements, clarifying that lenders need to use appraisers with experience in the area they are performing appraisals. “It is important to note that when an appraiser signs Fannie Mae’s residential appraisal report form, the appraiser is... Read More

Uncle Sam’s Investment in GSEs Nears $1.3 Trillion

The federal government has pumped a total of $1.286 trillion (gross) in Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks since its efforts to bolster the GSEs began in earnest last fall, according to the latest analysis by Inside The GSEs. The biggest chunk of that support remains purchases of GSE mortgage-backed securities by the Federal Reserve and... [Includes one chart] Read More

FHLBank MBS Holdings Slid 4.5% in First Quarter

Federal Home Loan Bank holdings of mortgage-backed securities dropped 4.5 percent in the first quarter of the year from the levels seen in the fourth quarter, but still were up 2.6 percent over year-ago levels, according to the latest analysis by Inside The GSEs of data provided by the Federal Housing Finance Agency. Total MBS holdings... [Including one chart] Read More

News In Brief

House Bill Would Extend Higher Loan Limits for Fannie, Freddie... Compensation of Freddie’s New CEO Haldeman Begins with $900k Plus... FHFA Plans to Issue More Regulations Later This Week... Hedge Fund Turns to Mudd... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results