Even if he was so-inclined to do so, President Trump might not be able to unilaterally release the government-sponsored enterprises from conservatorship because of the U.S. Supreme Court tariff ruling, a BTIG analyst report postulates. Processing Content Since Feb. 13, with the exception of Feb.18, mortgage rates have been under 6%, reaching 5.9% on Feb. […]
Tariff ruling could hamstring unilateral release of GSEs Read More »
Growth in mortgage-backed securities holdings pushed the government-sponsored enterprises’ combined retained portfolios up past a previous multiyear high in January, when President Trump directed them to expand MBS purchases. Processing Content Together, Fannie Mae and Freddie Mac’s total loan and MBS holdings rose to $278.45 billion during January from $271.69 billion the previous month and
Fannie Mae, Freddie Mac’s total portfolio at multiyear high Read More »
Mortgage-backed securities purchases became the current focus of near-term plans for Fannie Mae and Freddie Mac due to lower-than-anticipated valuations for a planned stock offering, a housing official told Fox Business. Processing Content “Today some people say the businesses are worth up to $1 trillion. They’re worth $500 billion to $700 billion, we believe,” Federal
Trump’s $200B MBS plan set off by GSE valuation gap: Pulte Read More »
Loancare can’t shake allegations that it mishandled borrowers’ mortgage prepayments, after a federal appeals court gave new life to a longstanding class action complaint. Processing Content The servicer will have to relitigate claims that it delayed customers’ prepayments toward unpaid principal balances in order to accrue unearned interest. Three justices of the 4th Circuit U.S.
LoanCare faces revived class action on prepayments Read More »
Plans to expand competitive use of VantageScore in the mortgage market could save the industry hundreds of millions of dollars, potentially offsetting concerns about rising credit score costs. Processing Content VantageScore estimates that full adoption of its 4.0 version under a “competitive use” scenario could cut more than $600 million in the first 12 months,
FHFA VantageScore savings sized up, FICO expands in mortgage Read More »
The wide-ranging nonagency mortgage market is giving traditional lenders more reasons to consider branching out into it, according to servicers supporting these strategies. Processing Content “Certain types of nonowner-occupied GSE loans that are agency deliverable now trade better in the nonagency space,” said Michael Yanniello, chief operating officer, head of portfolio oversight and operations, Onity
Servicers offer support as nonagency gets more competitive Read More »
A paper from Andrew Davidson & Co. reportedly supports the notion that dropping the tri-merge credit report standard would result in greater risk to mortgage industry participants. Processing Content The paper was brought to media attention by the Consumer Data Industry Association. Others stand by their views that a single pull is sufficient to use
Dropping tri-merge reports hikes mortgage risk, paper claims Read More »
Mortgage rates ended the week just above 6%, the lowest point since September 2022, although one other indicator had the 30-year fixed under that level for a couple of days. Processing Content The 30-year fixed rate mortgage fell 8 basis points this week to 6.01% as of Feb. 19, the Freddie Mac Primary Mortgage Market
Mortgage rates settle above 6%, lowest in over three years Read More »
Federal Reserve discussions about relaxing Basel III capital treatment of mortgage servicing assets could make MSRs more attractive for banks, but early analysis points to limited near-term market impact. Processing Content Comments from Federal Reserve Vice Chair for Supervision Michelle Bowman on Monday indicated the Fed was discussing removing the requirement to deduct mortgage servicing
MSRs in focus as Fed rethinks Basel III rules Read More »
Fannie Mae and Freddie Mac will be providing new loan-level disclosures about interest-rate buydowns in mortgage-backed securities this spring to address investor interest in tracking their use, which can impact prepayments. Processing Content The new disclosures applicable at the government-sponsored enterprises that buy many lenders’ loans become effective April 20 for MBS issued on or
Fannie Mae, Freddie Mac add new rate buydown disclosures Read More »