National Mortgage News, May 2, 2017–Bonnie Sinnock (Subscription)Fannie Mae and Freddie Mac will continue to pursue opportunities to provide liquidity to the single-family rental market despite opposition from mortgage and real estate industry groups.
Category: Top National News
Freddie Mac to Send $2.2 Billion Dividend to Treasury
Fox Business, May 2, 2017–Austen Hufford Mortgage-finance company Freddie Mac said it would send a $2.2 billion dividend payment to the U.S. Treasury, as the company posted a smaller impact from interest rates and spreads than in previous quarters.
Freddie’s Serious Delinquencies are Seriously Low
National Mortgage News, May 2, 2017–Austin Kilgore (subscription)Freddie Mac’s serious delinquency rate dropped below 1% for the first time since 2008, lending credence to its efforts to expand credit access with low down payment mortgage products for consumers and representation and warranty relief for lenders.
CMBS Delinquency Holds, But Industrial Rate Soars
Mortgage Daily, May 2, 2017Performance of securitized commercial real estate loans was slightly worse, though the outlook is stable. But late payments on industrial property loans soared, Morningstar Credit Ratings reported.
Dip in HECM Endorsements
Mortgage Daily, May 2, 2017A modest decline was recorded for monthly production of government-insured reverse mortgages, though there was a year-over-year rise.
Goldman Sachs Nearing $650 Million in Consumer Relief in $5 Billion Settlement
HousingWire, May 2, 2017–Ben LaneGoldman Sachs recently passed the one-third mark in its $1.8 billion consumer relief obligation that is part of the company’s $5 billion settlement reached in April 2016 over toxic mortgage bonds, the settlement’s monitor said in a new report.
7 Key Takeaways from MBA Secondary ’17
National Mortgage News, May 3, 2017–Brad Finkelstein (subscription)From housing finance reform to the latest economic projections, here’s a look at the biggest stories and best insights from this week’s Mortgage Bankers Association National Secondary Market Conference in New York.
BofA’s Moynihan Says Breaking Up Banks Would Hurt U.S. Interests
Bloomberg, May 3, 2017–Laura J. Keller, Felice MaranzBank of America Corp. Chief Executive Officer Brian Moynihan said the Trump administration would harm U.S. businesses and undermine the financial system if it were to revive a Depression-era law separating consumer and investment banking.
Mid America Buys $2.7 Billion in Ginnie MSRs
National Mortgage News, May 3, 2017–Bonnie SinnockMid America Mortgage, Addison, Texas, purchased a $2.7 billion portfolio of Ginnie Mae mortgage servicing rights that its subservicer, LoanCare, took possession of Tuesday.
Can The Mortgage Interest Deduction Really End?
Mortgage Orb, May 3, 2017–Peter G. MillerThe mortgage interest deduction is less secure than fairy tale stories suggest; one can argue that it’s within a hair’s breadth of extinction.