Nomura Holdings and the Royal Bank of Scotland (RBS) have agreed to pay an extra $33 million in addition to the $806 million a judge ordered them to pay for allegedly misrepresenting the quality of mortgage-backed securities sold to Fannie Mae and Freddie Mac in the run-up to the financial crisis.
Read More »Freddie Mac Announces Extensions of State Foreclosure Timelines in 34 Jurisdictions
Freddie Mac has announced that as part of the periodic review, state foreclosure timelines have been extended in 34 of 55 jurisdictions for all foreclosure sales completed on or after August 1, 2015.
Read More »Fannie Mae and Freddie Mac Are Intensifying Risk Sharing Initiatives
Schwartz noted that many private placement deals have taken place vs. traditional private label securitization transactions, which have been almost nonexistent since the conservatorship began.
Read More »Moody’s Upgrades $1 Billion Worth of Fannie Mae and Freddie Mac RMBS
The note holders for these transactions are not entitled to receive cash from the mortgage loans in the reference pools, unlike typical RMBS transactions. Rather, the performance of the mortgage loans in the reference pool determines the timing and amount of principal and interest the GSEs are obligated to pay on the notes.
Read More »Reliable Housing Market Forecasts Need Both Statistics and Human Judgment
Freddie Mac's monthly Insight & Outlook report for August 2015 released Monday found that a substantial amount of human judgment is required in addition to statistics when determining if a housing market is overvalued or when home prices are likely to drop.
Read More »Congress Urged to Pass Bill to Protect Taxpayers from Another Fannie Mae and Freddie Mac Bailout
The Competitive Enterprise Institute (CEI) and 14 other organizations have written an open letter to the U.S. House of Representatives and the U.S. Senate urging them to pass legislation that would provide a cushion to prevent another taxpayer bailout of Fannie Mae and Freddie Mac.
Read More »HAMP Borrowers Facing Higher Payments May Be Able to Turn to Freddie Mac
According to Treasury's Making Home Affordable Program Performance Report for Q1 2015, approximately 2.3 million homeowners had started HAMP trial modifications in the six-year existence of the program.
Read More »Freddie Mac’s Portfolio Sees More Expansion; Serious Delinquencies Below 2008 Level
The serious delinquency rate on Freddie Mac-backed single-family residential mortgage loans fell by another 5 basis points from June to July, down to 1.48 percent and is now lower than the 1.52 percent serious delinquency rate reported for Freddie Mac-guaranteed loans in November 2008 at the start of the financial crisis.
Read More »Rising Employment and Current Mortgages Fuel Housing Market’s Stabilization
According to the MiMi, current mortgages and employment are the major contributors pushing the MiMi into the stable range. Current mortgages reached 82.7 points in June, up 0.82 percent from May. Meanwhile, employment landed at 101.7 points, up 0.64 points from May.
Read More »Are Single-Family Property Renters More Likely to Buy a Home Than Those in Apartments?
Freddie Mac's latest survey, conducted in June, found that overall, about 55 percent of renters in both single- and multifamily properties intend to continue renting in the next three years. When dividing up the two categories, however, the data indicated that 53 percent of renters in SFR properties intend to buy a house in the next three years compared to just 36 percent of multifamily renters who plan to buy in that period.
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