Category: Top National News

National Mortgage News, May 13, 2016–Passy, Jacob
A subsidiary of Goldman Sachs was the winner for all four pools in Fannie Mae’s latest nonperforming loan sale.

Wall Street Journal, May 12, 2016–Light, Joe
Hedge funds that have bet hundreds of millions of dollars on Fannie Mae and Freddie Mac’s stock aren’t just leaving the fate of their investment to Wall Street. A group of hedge funds, including Paulson & Co. and Perry Capital LLC, is helping to finance a lobbying campaign to lift government controls on what happens with the mortgage giants’ profits.

National Mortgage News, May 12, 2016–Passy, Jacob
Foreclosures continued to decrease in the first quarter, while delinquencies remained flat from the previous quarter, according to the Mortgage Bankers Association.

Barrons, May 12, 2016–Kahn, Michael 
Unlike the rest of the stock market, mortgage REITs did not recover from the financial crisis bear market. But the sector has rallied nicely since January and this week exceeded the March 2009 low.

DS News, May 11, 2016–Honea, Brian
Delinquent Notice BHSerious delinquencies on credit cards and auto loans rose in Q1 to levels not seen in the first quarter in the last three years, largely due to the oil slump that impacted the economy in energy-sector states such North Dakota, Oklahoma and Texas, according to TransUnion.

Fannie Mae, Washington, D.C., reported its survey of senior mortgage executives said new mortgage disclosure requirements have given larger lenders a more competitive advantage in the mortgage marketplace.

DS News, May 10, 2016–West, Xhevrije
Quicken Loans, the largest Federal Housing Administration lender in the country, is standing its ground in a government lawsuit for allegedly knowingly submitting claims  for hundreds of improperly underwritten FHA-insured loans.

HousingWire, May 10, 2016–Lane, Ben
Homes in some stage of foreclosure and the number of seriously delinquent mortgages are now at levels not seen since late 2007, according to a new report from CoreLogic.

Housing Wire, May 16, 2016
Mortgage rates are forecasted to hover around the 4% level for about another year as the market awaits future Federal Reserve interest rate hikes, Mike Fratantoni, chief economist for the Mortgage Bankers Association, said in a press conference at the MBA Secondary conference in New York City.

National Mortgage News, May 16, 2016–Sinnock, Bonnie
The good news for mortgage lenders: Freddie Mac will soon roll out a suite of tools that should speed loan sales to the GSE. The catch: lenders will have to wait a little longer for a related change that will reduce their liability for buying back defective loans from Freddie.