Freddie Mac had been lending Fed Funds (overnight loans) to Lehman Brothers since 2005. Then, in 2008, the nature of those loans changed to longer term borrowings.
Wall Street will hit the halls of Congress on the issue of eminent domain. Meanwhile, these lenders are refi-heavy: Wells Fargo, Chase, and Quicken. See our exclusive list.
The decline in refinance mortgage lending that began in early 2013 continued into the third quarter, with refi originations moving to their lowest level in two years. According to a new Inside Mortgage Finance ranking and analysis, refinance mortgage production fell 12.9 percent from the first quarter of 2013 to the second, with an estimated $332.0 billion in new originations for the period. Refinance production has continued to decline since the end of June. Securitization of refinance loans by Fannie Mae, Freddie Mac and Ginnie Mae declined...[Includes three data charts]
The rise in interest rates that started in May has yet to have a significant impact on the purchase-mortgage market, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. However, analysts say higher interest rates and rising home prices will constrain housing affordability. The non-cash share of home-purchase financing increased for the sixth consecutive month in August to 72.8 percent, based on the three-month moving average. The trend has been driven by a shift from investor purchases of distressed properties to activity among current homeowners and non-distressed properties. The non-distressed market showed...
Its no secret that its now a sellers market for mortgage servicing rights, even for legacy portfolios that are suffering from high delinquency rates. But that isnt stopping outside cash from plowing into the receivables game. There continues to be a lot of money out there seeking to invest in the MSR market, said Mark Garland, president of MountainView Servicing Group, Denver. Over the past two years, upwards of $1 billion has been raised...
The mortgage and housing sectors know that lower loan limits for Fannie Mae and Freddie Mac are coming but they would like to forestall the day of reckoning for as long as possible, especially in light of looming implementation deadlines tied to a slew of new rules from the Consumer Financial Protection Bureau. Industry lobbyists close to the issue said the Federal Housing Finance Agency was expected to make an announcement by the months end on what exactly those loan limits might be. However, some sources said the FHFA was weighing heavily the fact that mortgage lenders are already crunching on technology and compliance upgrades tied to CFPB rules, in particular, the ability-to-repay measure. One official said...