Finance

The Mortgage Bankers Association would like Fannie Mae to move toward the fee-based structure Freddie is testing.

Here's how the former regulator thinks Fannie Mae and Freddie Mac could exit conservatorship and where he sees the residential market headed this year and next.

The momentum created in the fourth quarter is continuing during the first months of this year and is likely to continue throughout 2024, according to Dv01's Vadim Verkhoglyad.

The move follows Freddie Mac's expanded use of bank account data and brings to full fruition an effort both enterprises have been engaged in since 2017.

Reverse mortgage lender Finance of America posted a quarterly profit to end 2023, as it completed post-merger integrations and faced warnings of delisting from the New York Stock Exchange.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.

The issuance consists of $618 million of securities, primarily senior, but also some in a subordinate position.

In conjunction with the announcement, Rithm also commenced a cash-tender offer to purchase up to $275 million worth of notes coming due in 2025.

Market participants have been so focused on determining when and how much the Federal Reserve will slow its balance-sheet unwind that they haven't even started to consider another wrinkle: the composition of the U.S. central bank's assets.

The credit-insurance risk transfer deal from Fannie Mae covers risk from $9 billion in single-family loans and includes a new LTV identifier for the first time.

More than 55% of all purchase loans included in agency and government transactions were given to people who had not previously owned their residence, Intercontinental Exchange said.

The government mortgage-backed securities guarantor needs data breaches reported within a certain period of time and has specific instructions for subservicers.

Federal Reserve Governor Christopher Waller said he'd like to see the central bank's holdings of mortgage-backed securities go to zero. 

The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.

The company originated more loans to buy homes than Detroit-area rival No. 2 Rocket did in total during the fourth quarter.

The automated notices related to potential defects may be helpful because they flag issues earlier, according to the Community Home Lenders of America.

The mortgages have an average balance of $70,312, and an average coupon, on a weighted average (WA) basis, of 10.06%. Also on a WA basis, the borrowers have an original credit score of 739.

A rate drop was a common concern for some servicers during the quarter, and Ocwen recently took a step aimed at better addressing this risk in the future.

Federal Reserve Bank of New York President John Williams said the economy is headed in the right direction, and it will likely be appropriate to cut interest rates later this year

The megalender and servicer Rocket reported annual origination volume in 2023 of $78.7 billion, a 40% decline from 2022.