Over $1.7 Bil in Nonpeforming Mortgages For Sale
Nearly $2 billion in government-sponsored enterprise single-family loans that are currently not performing are being offered for sale through an auction to the highest bidder.
Fannie Drives GSE Refinances to 8-Month Low
A slump in monthly refinances of loans backed by the Federal National Mortgage Association more than offset an increase at its secondary rival -- driving refinances to an eight-month low.
Conventional Mortgage Credit Eases as Gov Tightens
Although prospective borrowers seeking conventional mortgages had an easier time qualifying for a loan last month, government conditions tightened. Jumbo activity had the biggest bounce.
MSRs Offered On Over $2 Billion in Agency Loans
Bids are being sought for mortgage-servicing rights on more than $2 billion in agency-backed single family loans with a wide geographic dispersion.
Large GSE MSR Offering
A big offering of mortgage-servicing rights on a portfolio of loans backed by the government-sponsored enterprises with a West Coast concentration is being marketed for sale to the highest bidder.
Profits Improve at Fannie Mae
Quarterly earnings improved at the Federal National Mortgage Association. Its profitability left it owing a dividend payment to the Department of the Treasury.
Earnings Hold Up at Freddie
Quarterly earnings at the Federal Home Loan Mortgage Corp. exceeded year-earlier levels. A decline, however, was recorded versus the preceding three-month period.
Agency MBS Issuance Recovers, Freddie Most
After falling to a two-year low, securitizations of agency mortgages increased last month. The Federal Home Loan Mortgage Corp. the was out front of the gain -- rising to the highest level since last year.
2-Year Low for Fannie's New Business
It has been more than two years since secondary activity at the Federal National Mortgage Association was as slow as it was last month. Serious delinquency turned lower.
Freddie Offering New 3% Down Program
A new program being offered by the Federal Home Loan Mortgage Corp. enables first-time buyers to obtain a conventional home loan with a tiny down payment.