The National Association of Federal Credit Unions is afraid that new GSE buyback policies promulgated by the Federal Housing Finance Agency could lead to a secondary mortgage market with fewer products and less competition from credit unions and smaller lenders. In a new comment letter to the agency, Dan Berger, NAFCU’s executive vice president of government affairs, said any new buyback requirement would hurt CUs disproportionately because these so-called nonprofit lenders “do not have the volume…
The federal judge in charge of overseeing multiple lawsuits filed by the Federal Housing Finance Agency against non-agency mortgage-backed securities issuers for misrepresenting deals that were sold to Fannie Mae and Freddie Mac rebuffed yet another motion by one of the banks to shut down the legal action.
In a few weeks the White House will release its new budget and there’s increasing speculation that it will ask for $3 billion to $5 billion for the beleaguered FHA Mutual Mortgage Insurance Fund…
Citigroup has joined the club of megabanks marking up the asset value of their mortgage servicing rights. Shares of Genworth spiked, and other mortgage news briefs.
Fannie Mae is ending the practice of assigning different guaranty-fee discounts to the various “affinity groups” or cooperatives that pool mortgages for sale into the secondary market, Inside Mortgage Finance has learned.
Remember the 4.4 million delinquent mortgagors who were done wrong by the nation’s mega-servicers and lost their homes to foreclosure? Remember how the Comptroller of the Currency launched a program in 2011 to let these mortgagors appeal? Well, apparently...
GSE MBS business hit a post-crisis record in 2012. A new Inside Mortgage Finance analysis of Fannie Mae and Freddie Mac securitization activity reveals that the two GSEs issued a whopping $1.27 trillion of single-family MBS in 2012.
Bank of America appears to have resolved a longstanding dispute with Fannie Mae over loan repurchases – but will not begin selling more loans to the GSE.
Fannie Mae is working on building an in-house unit to value mortgage servicing rights, according to industry officials who’ve been briefed on the GSE's plans.
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