• Ocwen10.32+0.11 +1.08%
  • Zillow93.05-0.94 -1.00%
  • Trulia+0 +0%
  • NationStar19.92+0.18 +0.91%
  • CoreLogic39.15-0.39 -0.99%
  • RE/MAX33.99+0.08 +0.24%
  • Fannie Mae2.57-0.03 -1.15%
  • Freddie Mac2.48-0.01 -0.40%
  • Wells Fargo56.21+0.14 +0.25%
  • CitiMortgage54.55-0.32 -0.58%
  • Bank of America16.67-0.07 -0.42%
  • Lennar47.52+0.34 +0.72%
  • Fidelity National Financial38.27-0.08 -0.21%
  • D.R. Horton26.35-0.02 -0.08%
  • PulteGroup19.43+0.05 +0.26%
  • First American35.75+0.02 +0.06%
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  • USDJPY=X123.9200+0.1950 +0.1576%
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Home >> News >> Secondary Market

Freddie Mac: Refinance Activity Boosts in First Quarter

Freddie Mac: Refinance Activity Boosts in First Quarter

-+*This week, Freddie Mac released the results of its Quarterly Refinance Analysis for the first quarter of this year, revealing that borrowers lowered their monthly mortgage payment and shortened their long-term payment by taking advantage unexpectedly low mortgage rates. Refinance activity accounted for 63 percent of all single-family originations.

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Prudential Settles Lawsuits with Bank of America over Mortgage-Backed Securities

Prudential Settles Lawsuits with Bank of America over Mortgage-Backed Securities

-+*New Jersey federal court documents filed earlier this week revealed that Prudential Insurance Co. has moved to settle its ongoing lawsuits with Bank of America NA, Merrill Lynch & Co. Inc., First Franklin Financial Group, and a number of lenders in the mortgage industry. The suits, which were first filed in March 2013, alleged Bank of America and others knowingly sold Prudential $2.1 billion in low-quality mortgage-backed securities—and made false statements about them.

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FHFA, Nomura Trial Over Mortgage-Backed Securities Winding Down

FHFA, Nomura Trial Over Mortgage-Backed Securities Winding Down

-+*Nomura and the Royal Bank of Scotland, also a defendant in the case, are the first two financial institutions out of 18 sued by the FHFA in 2011 that failed to reach a settlement and took the case to trial. FHFA sued the 18 institutions to recoup U.S. taxpayer costs following the government's $188 billion bailout of Fannie Mae and Freddie Mac in 2008, after which the government seized control of both Enterprises.

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Fannie Mae to Auction Loan Bundle Worth $786 Million in First Bulk NPL Sale

Fannie Mae to Auction Loan Bundle Worth $786 Million in First Bulk NPL Sale

-+*Bidders must meet qualifications set forth by FHFA. In early March, FHFA issued enhanced requirements for the buyers and servicers of Agency non-performing loans that call for bidders to identify servicing partners at the time of qualification and complete a questionnaire to demonstrate a record of successful loan resolution through foreclosure alternatives, since many of the loans being sold in these portfolios are deeply delinquent – two years or more delinquent in some cases.

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Ocwen to Sell $9.8 Billion MSR Portfolio to Nationstar

Ocwen to Sell $9.8 Billion MSR Portfolio to Nationstar

-+*There are approximately 81,000 loans in the portfolio involved in the transaction, according to Ocwen's announcement. The transaction is subject to a definitive agreement as well as approval from Freddie Mac as well as Freddie Mac's conservator, the Federal Housing Finance Agency (FHFA).

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