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Home | Tag Archives: FHFA

Tag Archives: FHFA

Are First-Time Homebuyers a Bigger Risk? Yes and No

home-key

*+-The author called first-time homebuyers “inherently different from repeat homebuyers. They are younger and have lower credit scores, lower home equity, and less income and, therefore, are less likely to withstand financial stress or take advantage of financial innovations available in the market than repeat homebuyers.”

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GSEs Partner With Industry to Form Advisory Group For Common Securitization Platform

GSE, Fannie Mae, Freddie Mac News, Mortgage Finance

*+-The CSP is a technology and operational platform that is being developed by CSS, the companies said. This new development is a new venture of both Freddie Mac and Fannie Mae. CSP will perform many of the core back office operations for the Single Security, as well as most of the Enterprises' current securitization functions for single-family mortgages, on behalf of the Enterprises.

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

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*+-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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