John Vella serves as Chief Revenue Officer of Altisource. Previously, he served as Chief Operating Officer of Equator LLC. He began his financial services career with the Federal Deposit Insurance Corp. and Freddie Mac and later served as Chief Sales Officer for H&R Block’s mortgage company.
Tag: Freddie Mac
MBA, Trade Groups Urge FHFA to Use Caution on Changes to GSE UMBS Pooling Practices
The Mortgage Bankers Association, in a letter to Federal Housing Finance Agency Director Mark Calabria, urged caution on a proposed “waterfall approach” to pooling practices used by Fannie Mae and Freddie Mac in the Uniform Mortgage-Backed Security market, saying in its current form the proposal could have a “negative effect” on market liquidity, raise borrowing costs and reduce access to credit.
Industry Briefs
The Tennessee Mortgage Bankers Association is providing up to $10,000 in college scholarships for 2020, its 60th anniversary year.
FHFA: Nearly 4.4 Million Homeowners Helped Since Conservatorship
The Federal Housing Finance Agency released its quarterly Foreclosure Prevention and Refinance Report, showing Fannie Mae and Freddie Mac completed 26,475 foreclosure prevention actions in the third quarter, bringing the total number of foreclosure prevention actions to 4.38 million since September 2008.
Residential Briefs
First American Financial Corp., Santa Ana, Calif., acquired Title Security Agency LLC, a brand within the Arizona real estate community. First American had been a minority owner for five years.
MBA Chart of the Week: 30-Year Fixed Mortgage vs. 10-Year Treasuries
This week’s chart shows the narrowing of the spread between the 30-year fixed mortgage rate and the 10-year Treasury yield–from a high of 208 basis points in September to 183 basis points at the end of December.
Residential Briefs
First American Financial Corp., Santa Ana, Calif., acquired Title Security Agency LLC, a brand within the Arizona real estate community. First American had been a minority owner for five years.
MBA Chart of the Week: 30-Year Fixed Mortgage vs. 10-Year Treasuries
This week’s chart shows the narrowing of the spread between the 30-year fixed mortgage rate and the 10-year Treasury yield–from a high of 208 basis points in September to 183 basis points at the end of December.
MBA: 3Q Commercial/Multifamily Mortgage Debt Increases By $75.7 Billion
Commercial/multifamily mortgage debt outstanding rose by $75.7 billion (2.2 percent) in the third quarter, the Mortgage Bankers Association reported this morning.
MBA Chart of the Week: Average Loan Size to First-Time Home Buyers
On average, the size of a first-time home buyer’s mortgage was $231,974 in the first three quarters of 2018, based on loan acquisitions data from Fannie Mae and Freddie Mac. This represents a 4.2% increase over the average size of $223,000 for mortgages to first-time home buyers originated in 2017 and an acceleration from the 1.8% annual gain in 2016.