Fannie Mae acquired $48 billion in home mortgages in January, its lowest purchase volume in more than three years.Meanwhile, the company's on-balance-sheet portfolio fell to $890 billion at the end of January, which translates into an annualized growth rate of negative 16.8%. Fannie Mae, which is facing a $9 billion earnings restatement, is operating under the close scrutiny of its regulator, the Office of Federal Housing Enterprise Oversight. Last week its stock fell to a new 52-week low after Federal Reserve Chairman Alan Greenspan suggested that the company and its chief competitor, Freddie Mac, should be no larger than $200 billion. In a recent report, analyst Matt Vetto of Smith Barney predicted that Fannie's portfolio would grow in the "single-digit" range after 2005, adding that the company may face a "permanent" 20% to 30% capital surplus requirement. Smith Barney is maintaining a "buy" rating on the government-sponsored enterprise. Fannie Mae can be found online at http://www.fanniemae.com.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18