In 1998, the top ten mortgage loan originators held around 40 percent of the market. By 2010, their share increased to nearly 80 percent; since then, it's dropped down to around 60 percent. Why the decrease? Because only five of the top 20 single-family mortgage originators in 2006 remain active today. So what's driving the big guys out--market cycles or market restructuring? And will the current trend of favoring smaller lenders last forever? Fannie Mae's Gerry Flood and Patrick Fischetti explored the topic in a recent commentary.
Read More »FHFA Directs GSEs to Increase Guarantee Fees
As part of its "Strategic Plan for Enterprise Conservatorships," the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to bring up their guarantee fees (g-fees). Based on the GSEs' loan purchases in Q3 2013, FHFA expects the announced changes to the g-fee structure to produce an overall average g-fee increase of approximately 11 basis points, which represents an average increase of 14 basis points on a typical 30-year mortgage.
Read More »GSE Reaches Settlement with PNC
PNC and Freddie Mac announced an agreement to resolve substantially all indemnification and repurchase obligations related to loans sold to Freddie Mac between 2000 and 2008.
Read More »FHFA Leaves Conforming Loan Limits Untouched
A recent guidance from the Federal Housing Finance Agency (FHFA) reveals the agency's decision not to change the maximum loan limit for mortgages acquired by the GSEs in 2014.
Read More »FHFA, GSEs Overhaul Mortgage Insurance Master Policy
Moving forward on another of its performance goals for 2013, the Federal Housing Finance Agency (FHFA) announced Monday that Fannie Mae and Freddie Mac have completed a major overhaul of mortgage insurance master policy requirements. "Updating the mortgage insurance master policy requirements is a significant accomplishment for Fannie Mae and Freddie Mac," said FHFA acting director Ed DeMarco. "The new standards ... enhance the insurance protection provided to Fannie Mae and Freddie Mac, which ultimately benefits taxpayers."
Read More »FHFA Reports ‘Another Strong Quarter’ of Home Price Appreciation
Following a trend maintained over the past nine quarters, the Federal Housing Finance Agency's (FHFA's) Home Price Index (HPI) posted an increase over the third quarter. The index, which incorporates sales data from Fannie Mae and Freddie Mac, rose 2 percent over the third quarter and 8.4 percent over the year. Also notable, the third quarter is the first time since 2009 that national home prices are higher than they were five years earlier, according to FHFA.
Read More »Does the Senate’s ‘Nuclear Option’ Clear the Way for New FHFA Head?
Now that Senate Democrats have changed the chamber's rules to block filibusters of executive appointments, analysts anticipate a much easier path for Rep. Mel Watt.
Read More »Ongoing Uncertainty to Unsettle Markets Going into 2014
With the federal government shutdown and debt ceiling negotiations still fresh in the nation's collective mind, Fannie Mae expects "continued market volatility" heading into the start of 2014.
Read More »Report: Recovery Suffering from ‘Broken’ Housing Policies
A new report published by the Opportunity Agenda, National Fair Housing Alliance, and the National Association of Real Estate Brokers (NAREB) claims that the U.S. housing policy is broken.
Read More »JPMorgan, Feds Reach Record $13B Deal on RMBS Claims
After weeks of speculation from market watchers and analysts, JPMorgan Chase announced it has finalized a $ 13 billion deal with the Justice Department.
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