The purchase mortgage business has been in the tank since the housing crash. Although home buying is on the upswing, will it be enough to replace the refi boom?
Wells Fargo last year wound up keeping almost $20 billion of new residential production its books instead of selling the loans to Fannie Mare and Freddie Mac.
The GSEs continued to wrangle with seller/servicers over repurchase requests during the fourth quarter of 2012, but mostly over loans originated five years earlier.
Thanks, in part, to HARP loans private mortgage insurers in 2012 posted their best year since the financial market collapse back in 2008, according to new figures compiled by Inside Mortgage Finance.
FHA single-family production rose 22.3 percent in 2012, but another increase in the mortgage insurance premiums will likely accelerate the program’s three-year decline in market share.
GSE MBS issuance increased in January and the most likely explanation may be new, more seller-friendly repurchase policies at Fannie Mae and Freddie Mac.
Rates were up across all default categories in the fourth quarter of 2024.
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