Also under the terms of the settlement, there was no disgorgement, civil penalty, or admission of wrongdoing on the part of any of the parties, according to a press release from Zuckerman Spaeder, the firm that represented defendant Patricia Cook.
Read More »With the Announcement of Fannie Mae’s First Bulk NPL Offering, More Sales Could Be Coming
Fannie Mae just announced last week that it is in the process of marketing its first-ever bulk sale of non-performing loans. Bids are due for this bundle of NPLs, worth about $786 million, on May 6 and the sale is expected to close in mid- to late June – but there could be more similar sales coming later.
Read More »Q1 Economic Slowdown Does Not Deter Freddie Mac’s Positive Forecast for Housing
Freddie Mac's April prediction for GDP growth of 2.6 percent is a slight decline from March's forecast of 2.8 amid disappointing incoming data from the first quarter and harsh winter weather. This did not put a damper on Freddie Mac's overall forecast for housing, however. In fact, the title of the report, "Great Expectations," indicated that analysts at Freddie Mac still believe 2015 will be the best year for housing since the pre-recession days.
Read More »U.S. Senator Calls for More Transparency from DOJ, Treasury Regarding GSE Profits
U.S. Senator Chuck Grassley (R-Iowa), Chairman of the Senate Judiciary Committee, has written separate letters to U.S. Attorney General Eric Holder and U.S. Department of Treasury Secretary Jack Lew seeking more transparency from the government regarding GSE profits.
Read More »Freddie Mac Announces STACR’s Inaugural Actual Loss Transaction
While this STACR offering will be similar to Freddie Mac's recent STACR transactions, the difference will be that losses will be allocated based on actual losses realized on the related reference obligations as opposed to allocating losses to the debt notes based on a fixed severity approach.
Read More »GSEs Making Push to Clear NPLs From Portfolios, Help Borrowers With Loss Mitigation
With Fannie Mae's announcement on Thursday that it is going to begin selling pools of non-performing single-family mortgage loans, it is clear that the GSEs are making a strong push to rid themselves of the backlog of deeply delinquent loans on their books five years after the peak of the foreclosure wave.
Read More »Former Senator, Ex-FDIC Chair Denounce FHFA’s Conservatorship of GSEs
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.
Read More »Collingwood Group’s Rood Warns That Another GSE Draw on Treasury May Be Coming
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.
Read More »Two-Year High for Pending Home Sales Shows ‘Positive Momentum’ For Housing
"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."
Read More »Fannie Mae, Freddie Mac MSR Portfolio with $10 Billion in UPB Up for Sale
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.
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