Freddie Reports Solid Performance in June
Secondary activity picked up last month at the Federal Home Loan Mortgage Corp., while serious residential delinquency moved lower and past-due payments on apartment loans improved.
GSE Refinances Resume Downward Spiral
Government-sponsored enterprise refinance volume fell to the second-lowest level in nearly six years -- though interest rates are nearing a critical threshold.
Concern Over GSE Shift to Smaller Sellers
The Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. are acquiring a bigger share of their business from smaller players -- a trend that presents risks.
Former Fannie IT Employee Admits Sabotaging HAMP
A former employee of the Federal National Mortgage Association has admitted to accessing company computers after he was fired and sabotaging the website for loan modifications.
No Current Plans to Extend HARP
The recent extension of the Making Home Affordable initiative does not necessarily mean that the Home Affordable Refinance Program will also be extended.
Concerns Over New Mortgage Insurer Requirements
While much of the mortgage insurance industry has thrown its support behind proposed eligibility requirements for insurers on government-sponsored enterprise loans, at least two firms have expressed concern.
MGIC Expands M.I. Guidelines
Enhancements announced to MGIC Guaranty Insurance Corp.'s streamlined mortgage insurance program enable coverage even when loans might have been deemed ineligible by automated underwriting systems.
HSBC Settles False Claims Made on Agency Loans
HSBC has agreed to settle claims that it didn't do enough to monitor fees charged by outside attorneys and service providers involved in foreclosures on agency mortgages.
Fannie Makes M.I. Rescissions Easier to Resolve
As part of its strategy to eliminate some of the uncertainty associated with repurchases, Fannie Mae is implementing steps to make it easier for seller-servicers to resolve rescinded mortgage insurance.
Non-Bank Special Servicers Pose Risk to GSEs
A growing share of government-sponsored enterprise loans are being serviced by non-bank mortgage servicers -- a development that is putting the GSEs at risk.