After their case against the Federal Housing Finance Agency was dismissed by the U.S. District Court for Delaware in November, government-sponsored enterprise shareholders David Jacobs and Gary Hindes recently filed an appeal.
Fannie Mae and Freddie Mac saw a 27.2 percent surge in refinance business during the fourth quarter that helped offset an 8.3 percent drop in purchase-mortgage acquisitions, according to an Inside Mortgage Trends analysis of mortgage-backed securities data. The wholesale-broker channel recorded a 7.4 percent increase in production during the fourth quarter, compared to smaller increases in retail (2.6 percent) and correspondent (6.0 percent) ... [Includes one data chart]
Nonbanks will likely account for over half of outstanding agency single-family servicing by the end of 2018 if market trends continue as they have in recent years.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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