GSEs

A new multifamily investment product will for the first time allow Freddie Mac to buy and guarantee bonds backed by multifamily loans that were originally underwritten by private entities.

Mortgage applications declined for the third consecutive week as fewer borrowers are choosing to refinance due to rising interest rates.

A renewed interest in subdivisions that stalled during the recession is likely the main reason the California Debt and Investment Advisory Commission reported doubling of refunding volume in land-secured Mello-Roos bonds from fiscal year 2011-12 to 2012-13, according to government consultant Larry Kosmont.

Industry observers have mixed reactions on whether next year's Republican-controlled Congress will finally address long-stalled efforts to reform Fannie Mae and Freddie Mac.

Mortgage insurers Radian Guaranty Inc. and MGIC Investment Corp. both saw their inventory of delinquent loans drop during October.

While the government-sponsored enterprises' move to allow down payments as low as 3% comes with some inherent risks, Fannie Mae executives are confident they can responsibly administer the new guidelines to ensure they're an effective tool for increasing access to credit.

Borrowers must have other factors such as housing counseling, stronger credit histories, or lower debt to income ratios to qualify for new low-down-payment loans, said FHFA Director Mel Watt.

Impac Mortgage Holdings lost $1.2 million this past quarter as total revenue declined by $4.6 million from the same period in 2013.

Redwood Trust Inc., the specialist in jumbo mortgages, said it entered into a risk-sharing deal with government-backed Fannie Mae on smaller home loans.

Freddie Mac is growing its single-family business and taking market share from its fellow government-sponsored enterprise Fannie Mae.

Mortgage rates increased for the second consecutive week, according to data released Thursday by Freddie Mac.

The move comes as the FHFA seeks to curtail advances to mortgage REITs and tighten FHLB membership rules.

Until Congress gets around to GSE reform, the FHFA could at least make Fannie and Freddie less expensive to run. Combining the companies would reduce the threat that they will need more support from the Treasury and perhaps lower the cost of obtaining a mortgage.

The recent dip in mortgage rates isn't likely to spur a refi boom, but with the industry now into the fourth quarter of a tough year, many lenders are looking for ways to boost business.

In order to make homeownership more affordable, the FHFA should make sure that GSE guarantee fees fully recognize private mortgage insurance and restore the longstanding tax-deductible treatment of mortgage insurance premiums.

It's time for the Federal Housing Finance Agency to make good on Fannie Mae and Freddie Mac's funding obligations to two affordable housing programs.

The Connecticut Housing Finance Authority's plans to sell $97.5 million of housing mortgage financing this week in transactions that include two private placements.

Industry veteran David Applegate will serve as CEO of Common Securitization Solutions LLC, the new firm co-owned by Fannie Mae and Freddie Mac to develop a common securitization platform for the mortgage secondary market.

Bill Cosgrove intends to make the return of the first-time homebuyer his primary focus as the new chairman of the Mortgage Bankers Association.

A rise in shorter-term refinances and lower cash-out volume has contributed to the rebound in home equity.