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Home | Tag Archives: Fannie Mae

Tag Archives: Fannie Mae

Newspaper Files Motion to Unseal Depositions in Fairholme GSE Profits Lawsuit

courtroom-justicescales

*+-The newspaper has asked the Court to remove the protected information tag from the depositions of Edward DeMarco, who was the director of the Federal Housing Finance Administration from 2009 to 2014, and Mario Ugoletti, who was a senior official with the U.S. Department of Treasury in 2008 when the government bailed out Fannie Mae and Freddie Mac at a combined price of $187.5 billion.

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Fannie Mae and Freddie Mac CEOs Receive Multi-Million Dollar Pay Increases

money-five

*+-The SEC outlined that Fannie Mae and Freddie Mac CEOs' direct compensation will consist of an annual base salary of $750,000, fixed deferred salary at an annual rate of $2.05 million, and at-risk deferred salary with an annual target amount of $1.2 million, totaling $4 million. The at-risk deferred salary is based on performance and can be reduced. These amounts will be prorated for 2015 and both executives have the same structure that applies to other executives within the GSEs.

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Average Guarantee Fees on GSE Loans Are Two and a Half Times Their 2009 Level

money-steps

*+-According to the FHFA report, the average level of guarantee fees charged has increased since 2009, when the report began. The guarantee fees are now two-and-a-half times their previous level from 2009 to 2014. The average fees increased from 22 basis points to 58 basis points from 2009 to 2014. From 2013 to 2014, average fees increased from 51 basis points to 58 basis points.

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GSEs Combine for Q1 Net Income of $2.4 Billion

Fannie-Freddie-logos

*+-The average loan-to-value (LTV) ratio for new business decreased at both Enterprises as refinances surpassed purchase mortgage originations, which generally have higher LTV ratios. The report said that borrowers were more inclined to use the Enterprises’ refinance programs that focus mainly on deeply underwater borrowers, including the Home Affordable Refinance Program (HARP).

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FHFA: Uncertainty Remains as to GSEs’ Financial Sustainability

money-life-preserver

*+-Fannie Mae reported positive net worth of $3.7 billion as of the end of 2014, slightly more than half of which ($1.9 billion) represented a dividend obligation to the Department of Treasury that was paid on March 31, 2015. Fannie Mae's net income for 2014 of $14.2 billion was only a fraction of the $84 billion the GSE reported for 2013, according to FHFA.

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FHFA Updates Congress on GSEs’ Progress On Foreclosure Prevention, NPL Sales

Checklist

*+-Also in 2014, FHFA and the GSEs reviewed and made enhancements to requirements for foreclosure alternatives, forbearance plans, and rate-reset notifications. Fannie Mae and Freddie Mac announced in July the expansion of home retention solutions for Standard and Streamlined modifications, enabling eligible borrowers with mark-to-market LTV ratios below 80 percent to obtain a loan modification.

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