Capital markets

Total investment property lending this year should be 31% above 2020's pandemic-affected activity.

The company has been making investments in correspondent originations and servicing and “reverse” loans used by borrowers age 62 and up to withdraw home equity.

While the hot market’s actual and forecast home price gains were key drivers of Fannie’s results, they also present a challenge to the affordable housing mission that it’s working to address.

The bank saw a modest increase in net income from the first quarter, as lawsuit settlements tied to the company’s discontinued home lending business and fees regarding an anti-money laundering and securities class action suit continue to limit growth.

The company’s results included some transitory revenue sources, including early buyouts of loans in forbearance from securitized pools, but executives plan to maintain growth over time through economies of scale.

The MISMO protocols are aimed at ensuring nothing is lost in translation when information about billing, late payments and related processing moves to a new system.

The acquirer will use the liquidation of a residential mortgage company’s assets to move several notches up in the rankings.

In 2011 Congress paid for payroll tax relief by raising secondary market guarantee fees for 10 years. The Mortgage Bankers Association, and others, don’t want to see that happen again.

Regulators should create a simple liquidity formula that allows the secondary market to function rather than using depository rules as a model, writes the head of Whalen Global Advisors.

While the unit saw a bigger increase in purchase volume compared to its competitors, net income, loan sales margins and total volume was lower compared with prior periods.