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Home | News | Secondary Market

Freddie Mac to Auction $410 Million Worth of Delinquent Mortgage Loans

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Government-sponsored enterprise Freddie Mac has announced that it will begin its second sale of “deeply delinquent” mortgage loans in three pools worth approximately $410 million. Delinquent loans left over from a wave of foreclosures following the housing bust have dogged Freddie Mac and its sister GSE, Fannie Mae. The conservator for both GSEs,

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Realignment Results in Servicer Cutting More Than 800 Jobs

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Luxembourg-based mortgage servicer Altisource Portfolio Solutions is cutting more than 800 jobs both overseas and at home in the wake of what was a bumpy year for the company. The move was announced in a conference call with investors on Friday that saw Altisource management working to reassure shareholders who have seen their stock drop more than 80 percent in the last year.

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Report: Mortgage Regulations Have Had Positive Impact on RMBS Sector

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While the onslaught of new mortgage regulations in the last year has created headaches for lenders, it's had a clear positive impact in one area, Fitch Ratings says in a new report: the residential mortgage-backed securities (RMBS) sector. In its latest look at the RMBS segment, the company says that while the market still has some rebuilding left to do, it "has seen some rather substantial improvements of late," owing in large part to improved loan underwriting standards in recent years.

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Fannie Mae CEO Warns Against Housing Finance Reform

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Speaking as a guest presenter at the Rotary Club of Atlanta on Monday, Fannie Mae President and CEO Timothy Mayopoulos warned against any type of reform where housing finance is concerned, telling the audience that “the (current) system works,” according to a report from the Atlanta Business Chronicle.

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Fannie Mae’s Mortgage Portfolio Plummets; Book of Business Ticks Upward

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Fannie Mae's gross mortgage portfolio took a huge downward turn in November, while the mortgage giant's Book of Business inched upward, according to Fannie Mae's November 2014 Monthly Summary released earlier this week. The balance of the gross mortgage portfolio dropped from $4.36 billion in October down to $4.24 billion in November, marking the 52nd time in the last 53 months Fannie Mae's portfolio declined month-over-month.

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