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Secondary Market

Fannie Mae Transfers Risk to Reinsurers in New Transaction

Fannie Mae has expanded its risk sharing offerings with Wednesday's announcement of a credit insurance risk transfer (CIRT) deal, which transfers the credit risk on a pool of loans from the taxpayers to a panel of domestic reinsurers. The new deal fulfills one of the 2014 Conservatorship Scorecard goals, which was to complete a variety of risk sharing transactions.

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Fannie, Freddie Introduce Low Down Payment Programs

By lowering the down payment down to 3 percent, leaders from the GSEs and the Federal Housing Finance Administration (FHFA) hope to increase homeownership and particularly household formation by offering loans to those who can afford mortgages but lack resources to make a 20 percent down payment plus closing costs.

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Mortgage Professionals Weigh in On GSE Wind-Down

In a report released Monday, the Collingwood Group said that 65 percent of lenders and other mortgage industry workers support the push for GSE reform, calling their current state of conservatorship under the Federal Housing Finance Agency unsustainable. At the same time, none of the survey respondents called for a wind-down or elimination of the GSEs.

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Finalized MI Requirements to Land in Coming Months

Months after the Federal Housing Finance Agency (FHFA) first unveiled a rule establishing eligibility requirements for private insurers, the agency informed some of the nation's top firms it doesn't plan to release a finalized rule until close to the end of Q1 2015 or later, according to an announcement from U.S. Mortgage Insurers (USMI).

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FHFA: Loan Limits to Remain Unchanged for 2015

In an release, FHFA announced that the maximum limit for mortgages acquired by Fannie Mae and Freddie Mac will stay at $417,000 for single-unit properties in most of the country, with a maximum of $625,500 for certain high-cost areas. Forty-six counties will see an increase based on their own local conditions.

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