HousingWire, Dec. 21, 2016–Swanson, Brena
One of the top GSE reform options on the table looks to the success of Ginnie Mae’s model and was conceived by two industry stalwarts who have the respect and experience to give it a fighting chance. But in order to make the reform possible, says Michael Stegman of the Bipartisan Policy Center, there are key changes, especially financially, that would need to happen.
National Mortgage News, Dec. 21, 2016–Sinnock, Bonnie
Ginnie Mae, at the urging of the mortgage industry, has revised the wording of the acknowledgment agreements necessary to finance servicing rights. It hopes the move improves Ginnie MSRs’ liquidity.
Mortgage Daily, Dec. 21, 2016
Monthly business was modestly higher at Freddie Mac, as was the government-sponsored enterprise’s portfolio.
Mortgage Daily, Dec. 21, 2016
The share of mortgages backed by Fannie Mae and Freddie Mac that are originated or serviced by non-bank companies has risen sharply in the last five years.
Bloomberg, Dec. 13, 2016–Dolmetsch, Chris
Credit Suisse Group AG must face New York Attorney General Eric Schneiderman’s $10 billion lawsuit accusing the bank of fraud in the sale of mortgage-backed securities before the 2008 financial crisis, a state appeals court ruled Tuesday.
Business Insider, Dec. 13, 2016–Perumal, Prashanth
Zillow calculated how a rate hike this week would affect mortgage payments in 12 major U.S. metros by comparing payments for a mortgage with a 4.0 percent rate to one with a 4.25 percent rate.
National Mortgage News, Dec. 13, 2016–Fest, Glenn
SoFi Lending Corp.’s securitization of its student loan refis for high net worth individuals is now a model for its recent expansion into super prime jumbo mortgages.
Mortgage Daily, Dec. 13, 2016
Monthly operational data indicate that there were $1.7506 trillion in outstanding Ginnie Mae mortgage-backed securities as of Nov. 30.
National Mortgage News, Dec. 14, 2016–Passy, Jacob
Fannie Mae and Freddie Mac will replace the expiring Home Affordable Mortgage Program with a new loss mitigation option called the Flex Modification. The Mortgage Bankers Association had proposed a successor to HAMP called “One Mod” in September based on the work of a task force with representatives from 20 member companies.
National Mortgage News, Dec. 14, 2016–Collins, Brian
With Republican control of Congress secure and the White House soon to be in GOP hands, lawmakers are optimistic they can pass a bill that lowers tax rates and reduces a number of deductions. That includes the mortgage interest deduction.
