|Business Falls to 6-Month Low at Freddie
New business at the Federal Home Loan Mortgage Corp. retreated to its lowest level in six months. Delinquency, meanwhile, remained at its lowest level in a decade.
Large Agency MSR Offering Hits Market
Bids are being sought for servicing rights on a large portfolio of agency mortgages. The offering has a moderate concentration of Golden State and Sunshine State loans.
GSE Mortgage Refinances Bounce Off 7-Yr Low
After plunging to the weakest level in at least seven years, government-sponsored enterprise refinance volume bounced up to the second-slowest month during the period. HARP production fell to a new low.
Another GSE MSR Offering Hits Market
For the second time in as many months, an offering of mortgage-servicing rights on close to $4 billion in government-sponsored enterprise loans with a Texas concentration has hit the market.
Large Non-Performing GSE Portfolio Sells
A significant portfolio of non-performing government-sponsored enterprise single-family loans that hit the market last month has found a buyer.
Interim CEO Starts Next Week at Fannie
The president and chief executive who has guided the Federal National Mortgage Association through $180 billion in profits is leaving next week.
Government Loans Drive Mortgage Credit Tightening
Changes to government mortgage programs last month drove down overall mortgage credit availability. Jumbo credit conditions, however, were looser.
Freddie Sells Over $500 Mil in Nonperforming Loans
More than $500 million in loans owned by the Federal Home Loan Mortgage Corp. have been sold through the auction process. A majority of the loans have been modified and fallen delinquent again.
Fannie Leads Agency MBS Issuance Lower
After leading agency issuance higher for two consecutive months, Fannie Mae was out front of a decline in securitizations last month. The spread between Freddie Mac’s and Ginnie Mae’s volume has been slashed from recent highs.
11-Yr Low For Fannie Serious Mortgage Delinquency
Serious mortgage delinquency on loans backed by the Federal National Mortgage Association tumbled to the lowest level in 11 years. Monthly business also improved.