GSE Repurchase Activity: Cumulative to Fourth Quarter 2019 (PDF Format)
Since 2009, Fannie Mae and Freddie Mac have secured $80.2 billion in repurchases on loans sold into their mortgage-backed securities. Another $68.8 billion in repurchase demands was withdrawn or otherwise kicked to the curb in the same period.
More than 4,800 sellers and originators were party to the government-sponsored enterprises’ demands and nearly 4,000 of them — from Countrywide ($9.4 billion) and Bank of America ($5.3 billion) to BankAtlantic ($5,000) and BancBoston Mortage Corp. ($1,000) — made repurchases.
While the bulk of buyback activity has been for loans securitized before 2009, sellers have paid out for newer vintages, too. More than half of the companies have made repurchases only for loans securitized since 2012 and nearly a quarter made amends for loans included in MBS issued within the past two years.
For most sellers, the picture brightens when it comes to withdrawn demands, which in most cases outstrip those that end in payment.
In a comprehensive data report, GSE Repurchase Activity: Cumulative to Fourth Quarter 2019, Inside Mortgage Finance looks at the GSE buyback record lender by lender and year by year. In this report, you’ll find details on every lender who has faced a buyback demand from either Fannie or Freddie since 2009. You’ll know how much they paid, and how much of it relates to each vintage of MBS. And you’ll know how much they got Fannie and Freddie to back down on.
The report includes both ranked and alphabetical lists for:
Repurchases from the GSEs. In addition to total repurchases, each seller’s detail includes breakouts by MBS issuance year from 2009 to 2019, plus breakouts for pre-2006 issuances and those made between 2006 and 2008.
Withdrawn and Rejected Demands. For each seller, volume of withdrawn or rejected demands is presented for each year from 2009 through 2019 with additional breakouts for pre-2006 issuances and those made between 2006 and 2008.
Pending and Disputed Demands as of Dec. 31, 2019. Seller-by-seller accounting of open demands, specifying how much is open at each GSE. For comparison purposes, volumes open at the ends of the last four quarters, as well as year end in each of the four previous years, are also provided.
No other resource lays out the agency buyback story so comprehensively and in such detail.