Tag Archives: Fannie Mae

Fannie Mae’s newest Home Purchase Sentiment Index report shows overall consumer confidence back to where it was in February. More people are bullish on buying and more feel safer in their jobs. And more than ever, survey respondents feel better about getting a mortgage today.

Fannie Mae’s first quarter net income was down sharply from that in Q4. Gains in risk management derivatives were overshadowed by smaller increases in interest rates and less income from fees. Lower refinancing activity also contributed to the smaller bottom line.

Mortgage rates remained fairly steady this week, even as the Financial Open Market Committee met to discuss potential hikes in the federal funds rate. These low rates may not stay for long, however. Reports found that the rate for a 30-year fixed-rate mortgage has stayed flat, but experts noted that the Fed's "half-full" economic outlook may mean rates will rise again at some point this year.

Factual Data, a Loveland, Colorado-based company providing mortgage credit and verification services to mortgage lenders, announced this week 4506-T IRS tax transcript verification services through Fannie Mae’s Desktop Underwriter, part of the GSE’s Day 1 Certainty program.

CBCInnovis, a Columbus, Ohio-based mortgage credit and data validation services provider, announced this week it is now an “authorized report supplier” for Fannie Mae’s Day 1 Certainty program.

DataVerify, a risk mitigation, data verification, and decision management provider for the mortgage industry, announced this week it is now an “authorized report supplier” for Fannie Mae’s Day 1 Certainty program, which exempts lenders from representations and warranties and helps expedite the lending process.

In an interview with Fox Business on Monday, Secretary of the Treasury Steven Mnuchin said he is committed to GSE reform—and that it might not include privatizing Fannie or Freddie. The main goal of the Trump administration, according to Mnuchin, is to provide "ample credit for housing" without putting taxpayers at risk. On the fate of the GSE's, Mnuchin said, "We’re committed to not leaving them as-is for the next four years." Mnuchin also discussed the Freedom of Information Act allowed GSE funds to be relocated toward other parts of the government—including the Affordable Care Act—without public knowledge.

Fannie Mae is now offering three solutions for borrowers with student loan debt. They will allow borrowers to exclude student debt in their debt-to-income ratio, let lenders accept student loan payments on credit reports, and allow borrowers to refinance in order to pay down student debts. Student loan debt is one of the biggest barries to homeownership today.

A key industry organization has released a white paper outlining a GSE reform plan. The paper details how the reform should occur, how to handle the transition, and the secondary market’s role in it all. The organization hopes to work with legislators on creating a bipartisan reform plan.

Nationstar mortgage announced that it received the Servicer Total Achievement and Rewards (STAR) performer recognition for overall performance from Fannie Mae. Fannie Mae’s STAR Program aims to recognize the highest performing servicers for customer service. This is the third year in a row in which Nationstar has received the recognition.