Fannie, Freddie Refis Diminish 6 Consecutive Months
The Federal Home Loan Mortgage Corp. was responsible for a drop in monthly refinances of government-sponsored enterprise residential loans. It was the sixth month in a row of declines.
Mortgage Credit Eases
A standardized quantitative index that reflects credit conditions in home lending indicates that lenders loosened their purse strings last month.
Flow GSE Offering for MSRs On at Least $720 Mil
A new offering will provide the successful bidder with mortgage-servicing rights on at least $720 million in government-sponsored enterprise loans -- though the amount could be much more.
RBS MBS Settlements Exceed $7 Billion
A massive settlement reached by the Royal Bank of Scotland Group plc brings to more than $7 billion the amount the bank has paid in actions related to mortgage-backed securities.
Freddie Changes Downpayment Requirements
Changes to down payment requirements for its first-time homebuyer program have been made by the Federal Home Loan Mortgage Corp.
GSEs to Support Manufactured Housing Market
Plans are in the works for the government-sponsored enterprises to begin supporting the market for manufactured housing.
PHH Completes Sale of Fannie Mae MSRs
As part of its strategy to eliminate its entire mortgage servicing portfolio, PHH Corp. has sold mortgage-servicing rights on its Fannie Mae loans.
Mortgage Wholesalers Offer Nonprime, Non-QM, 120%
Recent offerings by wholesale mortgage lenders include nonprime programs, loans that don't meet Qualified Mortgage standards, and loan-to-value ratios up to 120 percent.
Mid-Level Mortgage Executives Find New Homes
A number of recent management appointments at real estate finance firms included several mid-level executives filling regional positions.
Monthly Agency MBS Issuance Jumps
Monthly issuance at the three federally controlled housing finance agencies turned solidly higher from the prior month, though there was a year-over-year decline.