Fannie Mae

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

November 13, 2018 - IMFnews

Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official

Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.

November 13, 2018 - IMFnews

KBW Raises Earnings Estimates on Fannie and Freddie, Questions CRTs

As of Sept. 30, Fannie and Freddie had some form of risking sharing on 38 percent to 42 of their guaranteed portfolios, respectively.

November 12, 2018 - IMFnews

Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending

United Wholesale Mortgage continues to hire...

November 12, 2018 - IMFnews

Odds of GSE Reform May Not Have Changed Much

Gone from the Senate, via retirement, is Sen. Bob Corker, R-TN, a moderate Republican who was a proponent of reforming the secondary mortgage market…

November 12, 2018 - IMFnews

GSE Credit Box Opened Slightly Wider in 3Q18

The dollar volume of low-score purchase loans increased by 29.8 percent from the second to the third quarter, while total GSE purchase business went up 23.6 percent.

November 9, 2018 - Inside The GSEs

GSE Roundup

FHFA and CFPB Release New Loan-Level Dataset. The Federal Housing Finance Agency along with the Consumer Protection Finance Bureau on Nov. 8 released for public use a new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO) that provides insights into borrowers’ experiences in getting a residential mortgage. FHFA Deputy Director Sandra Thompson said, “The goal of the survey is to obtain information ... [Includes four briefs]

November 9, 2018 - Inside The GSEs

FHFA Releases GSE CRT Progress Report for First Half of 2018

Fannie Mae and Freddie Mac transferred risk on about $367 billion of unpaid principal balance in the first half of the year as the GSEs target a larger share of single-family loans. The Federal Housing Finance Agency published a credit-risk transfer progress report last week highlighting activity through the second quarter of 2018. This report marks the first time the FHFA is reporting the percentage of the GSEs’ targeted single-family and multifamily acquisitions that are covered by credit-risk transfer ...

November 9, 2018 - Inside The GSEs

FHFA Says Freddie Missed Two Low-Income Housing Goals

The Federal Housing Finance Agency’s annual report on housing showed that Freddie Mac fell short of meeting two of its four single-family affordable housing goals for 2017. The GSE came close but didn’t meet the low-income and very low-income purchase goals. The low-income goal was 24.0 percent and Freddie came in at 23.2 percent. The very low-income purchase target was 6.0 percent and Freddie was at 5.7 percent. The FHFA recently notified Freddie of the shortage ...

November 9, 2018 - Inside The GSEs

GSE Shareholders Urge Judge to Reject FHFA’s Request

Fannie Mae and Freddie Mac shareholders in a class action suit are urging U.S. District Judge Royce Lamberth to reject the government’s request to reconsider his opinion. On Sept. 28, Royce ruled that the Treasury sweep breached an implied covenant of good faith. That ruling paved the way for shareholders to continue their case against the government. But the Federal Housing Finance Agency and the GSEs are challenging that ruling. They filed a motion on Oct. 15 asking for ...

November 9, 2018 - Inside The GSEs

Fannie Inaugurates REMIC Structure Latest CRT Deal

Fannie Mae’s last Connecticut Avenue Securities credit-risk transfer transaction of the year featured its first use of a structure geared toward attracting more investors. CAS Series 2018-R07, a $922 million offering, is Fannie’s first risk-transfer deal involving a real estate mortgage investment conduit (REMIC). Both Fannie and Freddie see REMICs as a key to unlocking greater participation by real estate investment trusts and offshore investors. Freddie issued its first CRT using a REMIC ...

November 9, 2018 - Inside The GSEs

GSEs Report $6.7 Billion Combined Profits, Attract More CRT Investors

Fannie Mae and Freddie Mac posted a combined net profit of $6.72 billion for the third quarter while continuing to expand their credit-risk transfer programs. GSE earnings as a whole were down slightly from the $6.96 billion in the previous quarter, but that can be primarily attributed to Fannie’s 10.0 percent drop from the second quarter to $4.01 billion. Fannie’s new chief financial officer, Celeste Brown, said the decrease was due to lower credit-related income ... [Includes one data chart]

November 9, 2018 - IMFnews

What We’re Hearing: The ‘Hensarling Effect’ / Team Trump, Not Congress, Will Reshape the Fannie and Freddie / Timing? / Selling Servicing Rights to Unleash Revenue / Ocwen’s Head Count

The first move expected is a possible lowering of GSE loan limits...

November 9, 2018 - IMFnews

Single-Security Transition is on Schedule, but Some Investors May Prefer One GSE Over the Other

The grand concept behind the single security is that MBS issued by Fannie and Freddie will be fully fungible and interchangeable.

November 8, 2018 - Inside MBS & ABS

Fannie, Freddie Continue to Carve Away at Retained Mortgage Investment Portfolios, Earn $6.7B in 3Q

Fannie Mae and Freddie Mac reported $6.72 billion in net income during the third quarter, down 3.5 percent from the previous quarter. The government-sponsored enterprises have also been actively whittling down their retained portfolios.

November 9, 2018 - IMFnews

Agency Single-Family MBS Production Softened in October as Purchase Market Deflated

Fannie, Freddie and Ginnie issued a combined $98.03 billion of single-family MBS last month, a 5.1 percent drop from September…

November 7, 2018 - IMFnews

Short Takes: GSE Oversight Hearing Delayed Yet Again / Coming in 2019? / Maxine Water’s GSE Reform Bill? / Bermuda Insurer Partners with Radian / Ocwen’s New Name? Maybe Newco? / PrimeLending’s New Hire

Will Rep. Maxine Waters tackle GSE reform?

November 6, 2018 - IMFnews

Short Takes: Calabria for the FHFA Job? / Egenhoefer’s New Gig? / Ocwen’s Share Price Gets Clocked / WAMCO Prepares EC MBS / Invitation Homes’ SFR Inventory / Fast-Growing Servicers

Among the nation’s top 20 servicers at Sept. 30, Freedom Mortgage had the largest increase its MSR balances...

November 5, 2018 - IMFnews

Short Takes: The Election Day Crystal Ball and the GSEs / One More Try at a GSE Bill? / Hensarling Wants to Bury the GSE Model / John Britti’s Extra Pay / A New Texas Branch for Waterstone

On Friday, long-time GSE critic Rep. Jeb Hensarling, R-TX, took one more rock to Fannie and Freddie...

November 2, 2018 - Inside FHA/VA Lending

QM Patch Expiration Could Shift More High-DTI Loans to FHA

Certain potential changes could materially affect origination volume and determine the government-sponsored enterprises’ direction going forward, according to analysts. One of those changes could have a significant impact on the FHA market. Wells Fargo Securities analysts recently looked at three potential developments in the Fannie Mae/Freddie Mac sphere and evaluated their effects on the broader mortgage market. Two of those potential changes – loan limits and guarantee fees – are controlled directly by the Federal Housing Finance Agency, while the third relates to the temporary GSE qualified-mortgage exemption, or “QM patch,” which could affect the FHA market. All three factors loom over the mortgage landscape as the FHFA expects a new director in January 2019, who is likely to be more right leaning and could shift the focus back to shrinking the ...

November 2, 2018 - IMFnews

What We’re Hearing: The Strange Case of Fannie Mae and Freddie Mac / Pro-Pilot Programs / Warren Buffett and the GSEs / Mortgage Recruiter by Day, Opera Singer by Night / Lima One Makes its Move / Magnetar?

A huge non-QM expansion for Athas Capital?

November 2, 2018 - IMFnews

A Sequential Earnings Decline for Fannie Mae, but a Strong Profit Nonetheless

In less than two weeks, the Senate Banking Committee will hold an oversight hearing on controversial pilot programs launched by Fannie and Freddie...

November 1, 2018 - Inside MBS & ABS

Large Investor Preparing Clients for UMBS, Recommends Combining Mortgage Concentration to Avoid Challenges

One large fixed income investor is working with clients now to make sure they’re prepared to invest in the new single security when it rolls out next summer. Western Asset Management is advising investors to consider aggregating their mortgage concentration and exposure limits for the uniform MBS that Fannie Mae and Freddie Mac will issue in the to-be-announced market.

November 1, 2018 - IMFnews

Short Takes: Should the GSEs Increase Servicing Compensation? / Hanging with Mr. Cooper at No. 3 / PennyMac’s Amended Repo Line / Strong Underwriting Income for Arch, KBW Likes Radian

David Fleig of MorVest: “We have numerous active conversations with clients thinking about selling MSRs and I am sure our competitors do as well.”

November 1, 2018 - IMFnews

Trump’s FHFA Appointee Expected to Curb GSE Footprint but Not Enough to Roil Housing

Eric Kaplan of the Milken Institute: “I don’t think the non-agency market is ready to absorb the market that’s taken away from the GSEs without some significant signaling in advance.”

October 31, 2018 - IMFnews

MIAC, Phoenix Capital Out with New MSR Offerings

According to the offering circular, the portfolio is top-heavy with Ginnie product...

October 30, 2018 - IMFnews

Short Takes: Parity for the FHLBs and FanFred? / Once a Contender / Newfi and Non-QM / Strong Earnings from First American but Anxiety Too / From Alibaba to MGIC

Roughly 40 percent of Newfi Lending’s current loan volume entails the origination of mortgages that do not meet the qualified mortgage test.

October 30, 2018 - IMFnews

A Possible Problem for Ginnie: Fannie/Freddie MBS Getting an Explicit Guarantee from Uncle

Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…

October 30, 2018 - IMFnews

Fairholme Tells Investors Court Ruling ‘Should Advance’ the ‘Re-IPO’ of Fannie and Freddie

Fairholme adds: “This is good news when you count the cash that Fannie and Freddie have earned and will earn.”

October 29, 2018 - IMFnews

Short Takes: Bill Dallas Speaks / FoA’s New Reverse Product / A Blow-Out Earnings Number from Freddie? / Fannie? / No Permanent President for Ginnie, Still / Former FHLB Chicago Exec Named President of CU Mortgage Firm

On Wednesday, Freddie Mac will release third-quarter results...

October 29, 2018 - IMFnews

Prestwick Announces Auction of GSE, Private Investor MSRs

Fannie Mae receivables dominate the package at $70.9 million...

October 29, 2018 - IMFnews

A Sure Bet for the New FHFA Director: No More GSE Pilot Programs?

The fact that these initiatives were ever approved by the FHFA angered critics of the government-sponsored enterprises…

October 29, 2018 - IMFnews

MSR Transfers Boomed in 3Q18, Aided by Franklin American Sale

The top five bulk MSR transfers were led by Franklin American, followed by Stearns, loanDepot, Flagstar and United Shore/United Wholesale Mortgage…

October 26, 2018 - Inside The GSEs

Fannie Deploys New Tool to Help Servicers with Investor Reporting

Fannie Mae recently introduced a new tool – the Loan Servicing Data Utility platform – to simplify investor reporting.

October 26, 2018 - Inside The GSEs

GSEs Preparing Industry for 2019 Launch of Major Initiatives

Fannie Mae and Freddie Mac said it’s critical that the mortgage industry prepare now to implement both the Uniform Mortgage Data Program and the single security next year.

October 26, 2018 - Inside The GSEs

Senate Committee Reschedules Hearing on Fannie, Freddie Pilots

A Senate hearing on Fannie Mae and Freddie Mac pilot programs is back on the schedule for the lame-duck session of Congress following the elections next month.

October 26, 2018 - Inside The GSEs

Treasury Official Says Reform is a Priority as GSE Execs Bow Out

Top officials at Fannie Mae and Freddie Mac extolled the major improvements made at the two GSEs over their decade in conservatorship, and a key Trump administration official reiterated his view that the gains should be preserved.

October 26, 2018 - IMFnews

What We’re Hearing: Cut in Half, Ellie Mae’s Share Price / 1H 2019: A Challenge / Walking the Floor of the MBA Show / A Bullish Outlook for Servicing, Non-QM Lending / If Stocks Tank Further, Good Things Might Happen / High on Chris George’s ‘To Do’ List: GSE Reform

But putting the negativity aside for a minute, there are a couple of bright spots in the industry: Servicing valuations and non-QM lending...

October 26, 2018 - IMFnews

Incenter Announces Large MSR Auction

Loans from California account for the largest chunk of receivables at 18.3 percent...

October 26, 2018 - IMFnews

Freddie’s Layton: CRTs Transforming Housing-Finance System

Freddie CEO Don Layton: Some 90 percent of the credit risk on multifamily mortgages is being transferred…

October 26, 2018 - Inside MBS & ABS

A Possible Problem for Ginnie: What if Fannie/Freddie MBS Get an Explicit Guarantee from Uncle Sam?

Although legislative reform of Fannie Mae and Freddie Mac is dead for now, Ginnie Mae supporters continue to worry about what might happen to agency MBS spreads if the government-sponsored enterprises get an explicit guarantee on their MBS.

October 25, 2018 - IMFnews

Short Takes: HUD Chief on GSE Reform / Carson’s Sober Take on Interest Rates / New Rez’s MSR Bet Paying Off? / In Love with a 4 Percent Mortgage / Incenter Executive Leaves for Blue Water

HUD Secretary Ben Carson had some sobering thoughts about low interest rates...

October 25, 2018 - IMFnews

Private MIs Push for More Transparency in GSE Pricing, Underwriting

While the FHFA has proposed a formal rulemaking on GSE capital, the current standard known as the conservatorship capital framework has not been made public…

October 23, 2018 - IMFnews

Senate Banking Committee Hearing on GSE Pilots is Back On – Post Election

Cowen expects the next FHFA director to either terminate the GSE pilots or let them expire...

October 22, 2018 - IMFnews

Short Takes: HUD Shows its Enforcement Stripes / Otting, the Next (Interim) FHFA Director? / Sprout Mortgage Feeds Verus Nonagency MBS / Mayer Brown Hires CMG Attorney

Otting is Comptroller of the Currency. The speculation is that he will pull a Mick Mulvaney and wear two hats for a while…

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?


With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

vote to see results