Fannie Mae reported that the Single-Family Serious Delinquency rate declined in December to 3.29% from 3.30% in November. The serious delinquency rate is down from 3.91% in December 2011, and this is the lowest level since March 2009. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Freddie Mac reported that...
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From Nick Timiraos at the WSJ: Cost of Bailing Out Fannie and Freddie Expected to Fall Sharply Fannie Mae and Freddie Mac are expected to begin repaying taxpayers for their bailout faster than initially projected, in part because of an improving housing market. The Federal Housing Finance Agency, the companies’ federal regulator, released a...
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From Jacob Gaffney at HousingWire: Bank of America stops selling mortgages to Fannie Mae Bank of America is faced with numerous reps and warrants challenges on the mortgage front, and as a result of growing uncertainty, it will no longer sell certain mortgage refinances into Fannie Mae mortgage-backed securities. “The issue is tied to...
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Fannie Mae reported that the Single-Family Serious Delinquency rate was unchanged at 4.00% in October. This is down from 4.52% in October of 2010. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Freddie Mac reported that the Single-Family serious delinquency rate increased to 3.54% in October, up from 3.51% in...
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Fannie Mae launched a new product over the weekend that provides automated data checks at every point along the origination application process. EarlyCheck and is another part of the government sponsored enterprise's Loan Quality Initiative, designed to prevent bad loans from being funded and put into the marketplace. Between 2005 and 2007, many of...
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The mortgage finance space may remain divided on the future of government sponsored enterprises, Fannie Mae and Freddie Mac, but that isn't stopping the Federal Housing Finance Agency from regularly updating housing goals for the securitizers. In May, the FHFA set new housing purchase goals for Federal Home Loan Banks. The FHFA proposed the...
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Fannie Mae’s mortgage portfolio through July is up 4.1% from the year ago yet down somewhat from June, and the GSE issued nearly half the mortgage-backed securities during the month than in did last July. Fannie ended July with gross holdings of nearly 2 billion. That figure stood at 0.4 billion last year and...
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Fannie Mae has designated 181 condominium developments in Florida for special approval to give financing to homebuyers since the program launched in January 2010. Ocean’s Edge, a community of condo developments in Jacksonville Beach, Fla., was the latest to receive special approval this week. Fannie launched a review of hundreds of Florida condo projects...
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