Tag Archives: Fannie Mae

National Mortgage Insurance Corporation (National MI) announced Wednesday it will insure about $5 billion in residential mortgages in its first risk transfer transaction with Fannie Mae.

The latest summary shows Fannie Mae's book of business contracted at a compound rate of 1.9 percent in June, turning down from 0.3 percent and 0.2 percent gains in May and April (respectively).

The Federal Housing Finance Agency's (FHFA) index of new mortgage contracts shows interest rates climbing 0.15 percent from May to June. According to FHFA's Monthly Interest Rate Survey, the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders was 3.55 percent for loans closed in late June. As loans are typically locked in 30-45 days before a loan is closed, June's data reflect market rates from mid- to late May.

Fannie Mae and Freddie Mac together recorded 418,004 refinances in May, a drop from 463,587 in April but still well above May 2012's 341,185.

The Federal Housing Finance Agency (FHFA) reported 0.7 percent monthly price growth (seasonally adjusted) in May, according to its latest report. May's Home Price Index (HPI) was the 16th consecutive index to see monthly gains, according to the agency. For the nine census divisions, monthly price changes in May ranged from a low of -1.5 percent in the East South Central division to +1.8 percent in the South Atlantic division. On a year-over-year basis, the Pacific division took the top spot with a 15.8 percent price increase.

UBS announced Monday it has reached an agreement in principle with the Federal Housing Finance Agency (FHFA) to settle claims related to soured residential mortgage-backed securities.

A survey conducted for the American Action Forum (AAF) shows the majority of American voters view Fannie Mae and Freddie Mac unfavorably and would support phasing out the mortgage giants. The survey found that the enterprises have yet to recover in the public eye, with 52 percent of those surveyed saying they view the companies unfavorably and only 20 percent viewing them favorably. Wes Anderson, who oversaw the poll, described the public image of Fannie Mae and Freddie Mac as "nearly toxic."

Fannie Mae's issuance of multifamily mortgage-backed securities (MBS) in the second quarter was relatively even at $7.6 billion, the GSE announced.

The Mortgage Bankers Association (MBA) released its final paper explaining its vision for a successful common securitization platform.

The Federal Housing Finance Agency (FHFA) is facing a lawsuit from a housing group for allegedly failing to uphold the GSEs' obligations to make contributions to a housing trust fund. The National Low Income Housing Coalition announced the suit Tuesday. According to the group, Fannie Mae and Freddie Mac have not met their requirements to pay into the National Housing Trust Fund. Law requires the enterprises to transfer a portion of the value of their new business into the fund, though it was suspended in 2008.