About 28 percent of the aggregate pool balance consisted of previously modified mortgages that subsequently became delinquent, according to Freddie Mac. The transaction is part of Freddie Mac's Standard Pool Offerings (SPOs) and is expected to settle sometime in mid-September.
Read More »Fannie Mae’s Mortgage Portfolio Contracts at Double-Digit Rate for Third Straight Month
Though the value of Fannie Mae's Book of Business remained relatively flat from May to June, the GSE's gross mortgage portfolio took another tumble, falling another $5 billion down to a total value of about $390 billion, according to Fannie Mae's June 2015 Monthly Volume Summary released Friday.
Read More »Freddie Mac’s Portfolio Expands for Fifth Straight Month, This Time by $4.5 Billion
The serious delinquency rate on Freddie Mac-backed single-family residential mortgage loans fell by another 5 basis points from May to June, down to 1.53 percent.
Read More »Government Files Opposition to Bank of America’s Appeal of ‘Hustle’ Case Verdict
When filing the appeal in April, Bank of America claimed that "the trial itself was riddled with errors at both the liability and penalty phases." The bank also claims the federal law under which the government made the claim comes with a penalty of no more than $1.1 million.
Read More »Freddie Mac Elects New Member to Board of Directors
Freddie Mac recently announced the election of Lance F. Drummond as a director on the Enterprise's board. Drummond, 60, is a senior business leader with extensive experience specializing in business transforming strategy development and execution, operations, technology, and process re-engineering.
Read More »Fannie Mae Announces Enhanced Dataset for Single-Family Loans
Features of the enhanced dataset include information on credit performance up to, and including, property disposition. The credit information the new dataset provides includes event dates, the costs incurred by the credit event, and recovery proceeds that Fannie Mae receives.
Read More »JPMorgan Chase & MBS Investors Reach $388 Million Settlement in Lawsuit
JPMorgan Chase & Co agreed to pay $388 million to resolve a lawsuit by investors who claimed that the U.S. bank provided misleading information about the safety of $10 billion worth of residential mortgage-backed securities it sold before the financial crisis, according to multiple media reports.
Read More »Fannie Mae Reaches Milestone With Latest Credit Risk Sharing Transaction
Fannie Mae took two major steps this week in achieving its goal of increasing the role of private capital in the mortgage market through credit risk transfers in order to reduce taxpayer risk, as set forth by its conservator, the Federal Housing Finance Agency (FHFA).
Read More »Latest Fannie Mae NPL Sale Includes Smaller ‘Community Impact’ Pool
This sale includes two larger pools and a Community Impact Pool, which is a smaller geographically-focused, high occupancy pool. Fannie Mae is marketing the Community Impact Pool to encourage bidding by nonprofits and minority- and women-owned businesses (MWOB).
Read More »Freddie Mac Adds First Two Credit Insurance Structure Transactions
Freddie Mac obtained insurance policies through these ACIS transactions that move much of the remaining credit risk associated with two Structured Agency Credit Risk (STACR) debt notes executed earlier this year to a panel of insurers and reinsurers.
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