Archive for June, 2016


US 30-year mortgage rates hit lowest in three years: Freddie Mac

NEW YORK Interest rates on U.S. 30-year mortgages declined to their lowest levels in over three years as benchmark Treasury yields tumbled in response to Britain’s vote to leave the European Union, mortgage finance agency Freddie Mac FMCC.OB said on Thursday. The average 30-year mortgage rate fell to 3.48 percent in the week ended June […]

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Fannie Mae TBAs Rise with the Bond Market

Fannie Mae TBAs Rise with the Bond Market Fannie Mae and the TBA market When the Fed talks about buying MBS (mortgage-backed securities), it’s referring to the TBA (to-be-announced) market. The TBA market allows loan originators to take individual loans and turn them into a homogeneous product they can trade. TBAs settle once a month. […]

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Federal Jurisdiction—Fannie Mae

Lightfoot v. Cendant Mortgage Corp., No. 14-1055 The Federal National Mortgage Association—better known as “Fannie Mae”—is a quasi-governmental enterprise that operates under a federal charter but that has private owners. Fannie Mae’s charter authorizes the entity to sue and be sued “in any court of competent jurisdiction, State or Federal.” 12 U.S.C. § 1723a(a). The […]

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Fannie Mae, Freddie Mac look for more ways to share credit risk

The federal government is looking for additional methods and mechanisms that it can use to transfer credit risk currently borne by Fannie Mae and Freddie Mac, and therefore the American taxpayers, to private investors. On Wednesday, the Federal Housing Finance Agency published details of the credit risk-sharing histories of Fannie and Freddie, and issued a […]

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BRIEF-Freddie Mac announces first structured sale of seasoned loans

June 29 Freddie Mac : * Freddie Mac Says $199 Mln Pilot Structured Sale Of Seasoned Loans It Currently Guarantees And Holds In Its Mortgage-Related investments portfolio * Transaction expands fully guaranteed re-performing loan securitization program, non-performing loan sales program * Freddie Mac says loans are currently serviced by JP Morgan Chase Bank, N.A Source […]

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Freddie Mac Starts Selling Reperforming Loans

Freddie Mac will conduct its first-ever structured sale of seasoned loans from its mortgage-related investments portfolio, according to an announcement from Freddie Mac on Wednesday. The pilot sale for Freddie Mac-guaranteed loans serviced by JPMorgan Chase is worth $199 million, and the majority of loans are less than six months current or are moderately delinquent, […]

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Pending US home sales cooled in May: report

Lawrence Yun and houses in San Francisco (credit: Realtor.org and Pixabay) Pending home sales in the U.S. saw a slight dip in the month of May compared to the same period in 2015, the first year-over-year decline recorded in almost two years. After a steady climb for three straight months, the pending home sales index […]

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SCOTUS to Hear Fannie Mae Jurisdiction Fight

     (CN) — The U.S. Supreme Court on Tuesday agreed to consider whether wrongful foreclosure actions against the Federal National Mortgage Association — known as Fannie Mae — can only be filed in federal rather than state courts.     The case involves two California women who sued Fannie Mae and others following foreclosure proceedings. A federal judge dismissed […]

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BRIEF-Fannie Mae’s May gross mortgage portfolio fell at compound annualized rate of 32 pct

June 28 Federal National Mortgage Association: * Fannie Mae’s book of business increased at a compound annualized rate of 0.1 percent in May * Fannie Mae’s gross mortgage portfolio decreased at a compound annualized rate of 32 percent in May * Fannie Mae’s completed 6,552 loan modifications in May * Conventional single-family serious delinquency rate […]

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BRIEF-Freddie Mac issues monthly volume summary for May

June 28 Federal Home Loan Mortgage Corp * Total mortgage portfolio increased at an annualized rate of 2.5% in may * Total number of single-family loan modifications were 3,286 in May 2016 and 17,883 for the five months ended May 31, 2016 * Aggregate unpaid principal balance (UPB) of mortgage -related investments portfolio decreased by […]

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