Fannie Mae

Browse articles from all of our Newsletters related to Fannie Mae.

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 19, 2018 - Inside MBS & ABS

Fannie, Freddie CEOs Cite Benefits of Conservatorship Discuss What the Future Holds for the Mortgage Industry

The CEOs of Fannie Mae and Freddie Mac – one recently departed, the other soon to leave – told attendees at this week’s annual convention of the Mortgage Bankers Association that a number of good things came out of the 10-year conservatorship of the two government-sponsored enterprises.


October 19, 2018 - Inside MBS & ABS

Fannie and Freddie Just About Done Financing SFR Operators, But Review of the Pilot May Not Come Soon

Freddie Mac recently confirmed that it will provide indirect financing of $51.3 million to Reven Housing REIT, a publicly traded company that owns and manages 824 single-family rental units.


October 18, 2018 - Inside Mortgage Finance

Agency Mortgage-Servicing Market Grew Modestly in 3Q18 as Nonbanks Continue Amassing Market Share

The agency mortgage-servicing market continued to grow at a steady pace during the third quarter of 2018, fueled by strong purchase-mortgage originations, according to an exclusive ranking and analysis by Inside Mortgage Finance. [Includes two data charts.]


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 17, 2018 - IMFnews

Fannie Sells Three VA Buildings as it Preps for Office Consolidation

The Fannie Mae Virginia properties were sold for roughly $130 million…


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 - Inside The GSEs

GSE Briefs

Fannie Mae Gets Interim CEO. Fannie Mae announced this week that it has appointed Hugh Frater as interim chief executive officer. Frater's appointment will be effective on Oct. 16, 2018, subject to final approval from the Federal Housing Finance Agency.


October 12, 2018 - Inside The GSEs

FHFA Publishes 2019 Annual Performance Plan

The Federal Housing Finance Agency published its 2019 annual performance plan last week for overseeing the GSEs and Federal Home Loan Banks next year. The performance plan supports the FHFA’s long-range strategic plan, and includes goals, performance measures and targets, and strategies to accomplish those goals.


October 12, 2018 - Inside The GSEs

Fannie Sells Three VA Buildings in Prep for Office Consolidation

Fannie Mae recently sold its three Northern Virginia buildings as part of its plan to consolidate the 1.5 million square feet it has in office space in Virginia into one central hub. The buildings were sold to MRP Realty and Artemis Real Estate Partners. But Fannie will continue to occupy the buildings until its new 8,500 square foot headquarters at Reston Gateway, also in Virginia, is completed in 2022.


October 12, 2018 - Inside The GSEs

GSEs’ Latest Nonperforming Loan Sales Total $2.4 Billion

Fannie Mae and Freddie Mac both recently announced the winners of their latest nonperforming loan auctions, which included eight separate pools amounting to $2.4 billion. The largest sale was from Fannie and consisted of 10,300 loans totaling $1.88 billion divided among five pools, all won by MTGLQ Investors, a subsidiary of Goldman Sachs.


October 12, 2018 - Inside The GSEs

FHFA Requests Input on DTS Modifications from Fannie

Fannie Mae is looking to make about 22 changes to its duty-to-serve plan and the Federal Housing Finance Agency wants input on four of them. Both Fannie and Freddie Mac released their duty-to-serve underserved markets plans for 2018-2020 in December 2017. DTS is aimed at financing for low- and moderate-income families.


October 12, 2018 - Inside The GSEs

Upcoming FHFA Hearing to Focus on Oversight of GSE Pilots

Pilot programs implemented by Fannie Mae and Freddie Mac over recent years will be the focus of a Senate Banking, Housing and Urban Affairs Committee hearing next week. As complaints mount about the process in which a number of pilots were introduced and their threat to the primary market, the Senate decided to tackle the issue during the Oct. 18 “Oversight of Pilot Programs at Fannie Mae and Freddie Mac” hearing.


October 12, 2018 - Inside The GSEs

GSE Shareholders Win Will Allow Plaintiffs to Press Forward

A recent court ruling that affirmed the validity of claims that the GSE net worth sweep breached an implied covenant of good faith is a big deal for shareholders, according to the plaintiff’s attorney. David Thompson of Cooper and Kirk told Inside The GSEs this week that U.S. District Judge Royce Lamberth’s decision is a “significant victory” for the plaintiffs.


October 12, 2018 - Inside The GSEs

GSE 1-Family Business Up 10% in 3Q18 as Purchase Market Grows

Seasonal housing-market factors pushed GSE single-family mortgage business higher in the third quarter, according to a new Inside The GSEs analysis of mortgage-backed securities data. Fannie Mae and Freddie Mac issued $213.81 billion of single-family MBS in the third quarter, a 10.4 percent increase from the previous period. The gain came from a 23.4 percent surge in purchase-mortgage business, which offset a 15.5 percent downturn in GSE refi activity. [Includes two data charts.]


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 12, 2018 - Inside MBS & ABS

Securitization of Mortgage Servicing Rights Helps Nonbanks; Freddie Urged to Join Fannie, Ginnie

The creation of securitization structures to finance mortgage servicing rights was the most significant development for nonbank mortgage lenders in the aftermath of the financial crisis, according to Vandy Fartaj, CEO at PennyMac Financial Services.


October 11, 2018 - Inside Mortgage Finance

Senate Banking Panel Hearing to Explore GSE Pilot Programs on Private MI, MSR Financing, SFR Sales

The Senate Banking, Housing and Urban Affairs Committee next week is expected to push officials from Fannie Mae, Freddie Mac and the Federal Housing Finance Agency on controversial pilot programs that have drawn the ire of certain industry factions.


October 11, 2018 - IMFnews

Invitation Homes Prepays Part of Loan from JPMorgan Chase

Next Thursday, the Senate Banking Committee will hold a hearing on GSE pilot programs…


October 11, 2018 - IMFnews

Roughly 26 Percent of Home Lenders are Using AI, Machine Learning

Use of artificial intelligence seems to be concentrated at nonbanks…


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

Short Takes: Castle & Cooke? / The Fannie Mae Connection / Frater, a Good Choice to Head Fannie / LendingHome Surpasses the $3B Mark in FnF Production / NDA Hires Clayton Executive

Fix-and-flip lender LendingHome, San Francisco, has surpassed the $3 billion market in originations...


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...


October 8, 2018 - IMFnews

Fannie Names Former Berkshire Hathaway Executive Hugh Frater Interim CEO

Frater was also executive vice president at PNC Financial Services...


October 8, 2018 - IMFnews

Senate Banking Committee Hearing Likely to Touch on Freddie Mac MSR-Financing Pilot

In his report, KBW analyst Bose George said, “While Mel Watt, director of the FHFA, was questioned about some of these issues in past congressional hearings, this will be the first hearing to focus exclusively on this topic.”


October 5, 2018 - IMFnews

Senate Hearing Scheduled to Focus on GSE Pilot Programs Oversight

It appears that the Senate is ready to tackle industry complaints about Fannie Mae and Freddie Mac pilot programs. The Senate Banking Housing and Urban Affairs Committee announced this week that they will hold a hearing on Oct. 18 to discuss the oversight of pilot programs at the government-sponsored enterprises. …


October 5, 2018 - Inside MBS & ABS

Fannie Mae, Freddie Mac Shareholders Finally Get a Modest Win in Case Against Treasury Sweep

Fannie Mae and Freddie Mac shareholders received a bit of good news late last week when a judge sided with them on one of their arguments against the government.


October 5, 2018 - Inside MBS & ABS

GSEs on Track to Start Issuing Single Security in June, Additional Guidance Pending from SIFMA and IRS

Years of preparation for single security issuance by Fannie Mae and Freddie Mac appear to be paying off as officials involved in the effort suggest that the government-sponsored enterprises and industry participants appear ready for the transition.


October 5, 2018 - IMFnews

Warehouse Banks Ponder MSR Financing – But There’s Freddie Mac to Worry About

This executive, like many interviewed, called it an example of charter creep. Freddie and the FHFA think otherwise…


October 5, 2018 - IMFnews

Securitization Market Limped Through 3Q18 with Help From Agency MBS Issuance

The major driver was a 16.8 percent jump in Fannie Mae issuance…


October 4, 2018 - Inside Mortgage Finance

Refinance Market Continued to Slip in 3Q18, But Purchase Mortgages Lift Fannie/Freddie Business

Fannie Mae and Freddie Mac turned in a solid gain in single-family production during the third quarter of 2018, according to an exclusive ranking and analysis by Inside Mortgage Finance. The two government-sponsored enterprises issued $213.81 billion of new single-family mortgage-backed securities during the third quarter, a solid 10.4 percent increase from the previous three-month period. At $592.02 billion in production through the first nine months of ... [Includes three data charts]


October 4, 2018 - IMFnews

Short Takes: Freddie the Final Takeout on SFR Deal / Helping Reven / Gateway Mortgage Recruiting / Sen. Warren Questions Mulvaney’s Role in Fundraiser / A Promotion at Fannie Mae

Gateway Mortgage of Oklahoma is in a hiring mode these days...


October 4, 2018 - IMFnews

SFR REIT Reven Inks $51.3 Million LOC from Arbor

A few months back, the Federal Housing Finance Agency ordered Fannie Me and Freddie to end their involvement in SFR financial arrangements. However, any deals in progress were allowed to close...


October 4, 2018 - IMFnews

MI Firms See No Problems Meeting New PMIER Goals

MI analysts agree that other than a few tweaks, the new PMIER requirements aren’t terribly different than the original proposal…


October 4, 2018 - IMFnews

Refi Market Continued to Slip in 3Q18, but Purchases Lift Fannie/Freddie Business

Purchase mortgages accounted for 71.4 percent of third-quarter GSE business…


October 3, 2018 - IMFnews

FHFA’s Examiner Program Under Fire for Lack of Results

During a House hearing, Rep. Ann Wagner, R-MO, criticized the FHFA for spending $7.7 million on what she called a “crucial training program which lacks professionalism, among other things…”


October 2, 2018 - IMFnews

Short Takes: Top-Ranked Subservicer Hires Nonbank Execs / Soon to be One: Ocwen and PHH / NAR Bolsters its Government Affairs Staff / One Criticism of Jeb / California, the Golden GSE State

One criticism of Hensarling is that his conservative ideals prevented him from shaping a consensus bill to reform Fannie Mae and Freddie Mac...


October 2, 2018 - IMFnews

GSE Shareholders Take Solace in Partial Win Against FHFA, Treasury

Investors Unite: “Lamberth’s ruling does not mean reimbursement checks are on the way…”


October 1, 2018 - IMFnews

Short Takes: Senators Want CFPB Official Fired / A Plea to Stop the Agency’s Reorg / Sen. Warren Drops Hint on White House Run / Watt’s Tenure? / A New Director at Altisource

Sen. Warren has been dropping hints that she may run for president in 2020...


October 1, 2018 - IMFnews

Inspector General Wants FHFA to Better Utilize Fannie, Freddie Fraud Reports

The IG said there’s no specific methodology for fraud detection and reporting…


September 28, 2018 - Inside The GSEs

GSE Roundup

Freddie Expands Community Land Trust Mortgage Offering. Freddie Mac announced this week that it’s expanding its support for shared-equity homeownership programs that focus on long-term affordability. The GSE said it will begin purchasing Community Land Trust Mortgages to facilitate the preservation of affordable housing in low- to mid-income markets across the country. In an era of tight housing inventory and rising home prices, Freddie noted that shared-equity homeownership offers prospective buyers a way to become homeowners and lenders an opportunity to support underserved communities. “In developing the Community Land Trust Mortgage offering we were able to take a fresh look at existing mortgage products in this space, listen to the...


September 28, 2018 - Inside The GSEs

Fannie Taking Ideas for Solving Affordable Housing Issue

Fannie Mae launched a $10 million innovation challenge this week asking for ideas on healthy affordable housing. The initiative is a two-year commitment to source new ideas related to addressing affordable housing needs by reaching outside of Fannie and its traditional partners. “We recognize the value in breaking down silos. We want to work with new partners on issues that are inextricably linked to affordable housing in order to create comprehensive solutions,” said Fannie’s Vice President of Sustainable Communities Maria Evans. She went on to say that the GSE is incubating innovative ideas that directly address its mission to bring affordability and stability to underserved areas...


September 28, 2018 - Inside The GSEs

FHFA’s Costly Exam Program Under Fire for Lack of Results

The Federal Housing Finance Agency’s examination program has not made any progress in seven years, according to new report by the FHFA’s Office of Inspector General, which said the number of commissioned examiners has actually decreased. The FHFA is currently conducting an internal review of the program. The IG has been asking the FHFA to beef up its examinations program since 2011. As a result, in 2013 the agency developed its own Housing Finance Examiner Commission Program that offered classroom courses, on-the-job training and final examinations. But the program hasn’t been successful, according to data obtained from the IG.


September 28, 2018 - Inside The GSEs

California Still Top GSE Mortgage Market in First Half of 2018

California remained the top state for Fannie Mae and Freddie Mac activity in the first six months of 2018 as volume reached $68.22 billion, according to a new Inside The GSEs analysis. About 44.4 percent was from the purchase market and 20.8 percent were first-time homebuyers. Texas trailed in second place with $27.57 billion in volume with 69.0 percent of that being attributed to the purchase market. Texas was followed closely by Florida with $25.01 billion. Rounding out the top five for GSE volume were Washington ($16.08 billion) and Colorado ($14.99 billion).


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%