Secondary

While some industry forecasts predicted origination volumes would fall 7% quarter-to-quarter in 4Q, early earnings numbers from Wells Fargo, JPMorgan Chase, Citi and PNC Bank show they were down just 3% when purchased loans are excluded.

Pricing parity is a big hit with lenders, but the MBA questions retaining certain limits on what Fannie and Freddie can purchase.

The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear whether the incoming Biden administration will keep the mortgage giants on the same reform path.

A portion of the proceeds from the offering, announced days following its IPO filing, will go toward the repayment of its mortgage servicing facility.

The weighted average seasoning is 34 months, well above that of prior Invictus-sponsored deals on the Verus shelf that are typically new originations under 10 months.

The transaction finances the loan portion of a $989.5 million acquisition of warehouse and distribution properties located in nine states.

Changes in rules related to repayment options and refinancing criteria have complicated servicers’ lives, but otherwise this crisis hasn’t been as bad as that of 2008, a Fannie Mae survey finds.

But will the company's second attempt to go public come to fruition in a market where two lenders already put their offerings on hold?

President-elect Joe Biden’s team has held preliminary talks on how it could oust Fannie Mae and Freddie Mac’s regulator, a move that would let the new administration fill a post that’s crucial to the mortgage market and its goal of boosting affordable housing.

For some, including National MI and Essent, the improvement is taking place faster than expected.