Secondary markets

FHFA auditors are in the process of identifying lenders which sold “materially deficient” mortgages to the GSEs and will bring civil damage claims against these seller/servicers.

Fannie Mae is moving closer to picking an advisor that will guide the government-sponsored enterprise as it moves to unload billions of dollars in nonperforming loans over the next few years.

FBC Mortgage has launched a separately operated and branded loan channel called CloseQuick to provide boutique third-party origination services to community banks.

Scandals have tarnished the reputations of many large bank mortgage lenders and one expert believes they need to go back to being community lenders, the same niche their smaller competitors occupy.

PennyMac Mortgage Investment Trust could raise $315 million in fresh cash when it closes on the sale of 15 million shares of its common.

Standard & Poor’s warned that the entrance of new and lesser known special servicing firms can overcrowd the market and complicate the servicing process.

By the fourth quarter, the government-sponsored enterprises likely will be reporting even stronger profits as their legacy loans continue to run off, being replaced by very profitable new issuance.

Ellington Financial, a specialty finance company that acquires and manages mortgage-related assets, sold 3.5 million shares of common stock.

The Mortgage Industry Advisory Corp. is selling almost $8 billion worth of Government National Mortgage Association servicing rights for an undisclosed client.

Government-sponsored enterprise reform needs to account for the GSEs' influence on commercial/multifamily securities markets as well as single-family ones.

Norcom Mortgage has entered the correspondent channel and is now actively buying residential loans from community banks, nonbanks and credit unions.

Freddie Mac’s approach to the first HARP refinancing program resulted in faster prepayment speeds on its securitized mortgages compared to Fannie Mae MBS, according to a new report from Amherst Securities Group.

A newly negotiated line allows PennyMac to tap Bank of America for up to $300 million.

The Consumer Financial Protection Bureau’s flat fee proposal met resistance from mortgage brokers, loan officers, and consumers who pay discount points.

On Monday, National Mortgage News will publish a story in its paper edition (yes, paper) that says the Federal Housing Finance Agency is working on language that will make GSE loans bullet proof from buybacks if they’ve been current for 36 months.

Everyone needs to tell the truth about appraisal turn times in this period of increased application volume.

Treasury announced that it has amended the preferred stock purchase agreements that the federal government has used to prop up the two government-sponsored enterprises.

The Department of Housing and Urban Development and its auction advisor, DebtX, have set an auction deadline of Sept. 12 for investors to submit sealed bids on $1.7 billion of nonperforming residential loans.

Shortly, the Federal Housing Finance Agency will come out with its parameters on what can – and can’t – trigger a buyback request from their wards, Fannie Mae and Freddie Mac.

Shortly, the Federal Housing Finance Agency will come out with its parameters on what can – and can’t – trigger a buyback request from their wards, Fannie Mae and Freddie Mac.