Tag Archives: Freddie Mac

Isaac and Kerrey contend that the FHFA's conservatorship of Fannie Mae and Freddie Mac was not intended to be a long-term solution to the problem, yet the enterprises are in a "state of limbo" because no end is in sight to the conservatorship.

On the Obama Administration's recent policy changes intended to give more prospective homebuyers access to credit, Rood acknowledged that the administration wants to responsibly expand the credit box and make homebuying more affordable by lowering the interest rate – but at the same time, he said lenders are compelled by capitalism rather than patriotism to use government programs.

"This is a positive sign heading into the spring homebuying season," Freddie Mac wrote on its blog. "This also shows positive momentum in general for the housing market, since this is the fourth consecutive month pending home sales have been up."

Residential mortgage servicing rights sales and valuation advisory services provider MountainView Servicing Group announced Monday that it is acting as adviser for the sale of a Fannie Mae and Freddie Mac mortgage servicing rights (MSR) portfolio with an unpaid principal balance (UPB) of about $10 billion.

The loans were sold in three pools, and winning bidder for all three was GCAT Management Services 2015-13. The loans were an average of about three years delinquent, meaning it is likely that all the borrowers have been evaluated for or are in some stage of loss mitigation, or are in foreclosure.

The secondary reserve could also be referred to as an escrow account, where funds are held until a resolution is created on GSE reform. The bill would establish a secondary reserve by inserting the new language into the existing statutes.

According to FHFA, nearly 41,000 out of those 65,900 foreclosure prevention actions (62 percent) completed in Q4 were permanent loan modifications; 33 percent of borrowers who received loan mods had their payments reduced by 30 percent or more, according to FHFA.

Approximately 511,000 borrowers who received HAMP mods in 2010 are due to reset in 2015 and face the prospect of increased interest rates, commonly known as "step-ups." Treasury and the GSEs are reaching out to assist borrowers who have trouble absorbing the increased monthly payments.

With GSE reform a hot topic among government officials and those in the housing industry, the Federal Reserve Bank of New York has issued a report stating that the "path forward for reform of Fannie Mae and Freddie Mac does not look promising" and that failure to wind down the GSEs equated to a "colossal missed opportunity" to put U.S. residential housing finance on more stable footing.

Just as it reported for December's national index, Freddie Mac reported that January's national MiMi value of 74.6 indicated a weak housing market and even declined slightly (0.20 percent) month-over-month despite a year-over-year increase of 3.39 percent