Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those mortgages were originated at interest rates of 3% or less, and rates now are more than 3 percentage points higher.

Mortgage 384

Mortgage Appraisal Sellers Marketing 384

Housing Wire

SEPTEMBER 11, 2023

The Federal Housing Finance Agency (FHFA) on Monday announced that it will offer additional opportunities for public engagement as it considers the transition to updated credit score models and credit report requirements for loans acquired by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

Finance 397

Finance Government Mortgage Investors 397

Housing Wire

OCTOBER 28, 2021

We have recently seen a major shift in the focus of Fannie Mae , Freddie Mac and their regulator, FHFA. The focus has now shifted to equitable housing for underserved and minority borrowers, initiatives to improve access to affordable mortgage credit, and equitable lender access to GSE loans.

Mortgage 445

Mortgage Contracts Insurance Realtors 445

Housing Wire

NOVEMBER 9, 2023

That consolidation is a tailwind for Acra and other non-QM lenders, as some of the agency lenders that got into non-QM recently are leaving the space now. Our investor loan process is much easier than doing an investor loan through Fannie Mae and Freddie Mac ,” Lind said. “Our So for Acra, this hasn’t been a problem.”

Lending 416

Lending Investors Business Mortgage 416

Housing Wire

MAY 2, 2024

And after signaling as late as this past March that it could begin cutting benchmark interest rates up to three times this year, Federal Reserve policymakers this week chose to hold the benchmark rate steady — with the future path of potential rate cuts now uncertain and still facing a rising hurdle of inflation. They crested near 7.6%

Marketing 415

Marketing Mortgage Investors Sellers 415

Housing Wire

DECEMBER 14, 2023

In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. Yet, affordability now sits at historic lows and the prospect of homeownership seems more out of reach for low- and moderate-income families than ever before. In fact, neither is true.

Insurance 431

Insurance Property Taxes Buyers Investors 431

Appraisal Buzz

AUGUST 4, 2021

We’ll be getting the inside scoop on what’s happening now and what changes are coming that will impact us all. What changes have begun in the industry since this past year? What changes have begun in the industry since this past year? What are some of these long-term effects from the changes we see today?

Valuation 370

Valuation Appraisal Housing Market Marketing 370

Housing Wire

APRIL 30, 2021

The Federal House Finance Agency announced that sometime this summer Fannie Mae and Freddie Mac will introduce a new refi product in an attempt to usher these low-income borrowers into what is left of the refi wave. The option is coined as Refi Now at Fannie Mae and Refi Possible at Freddie Mac.

Finance 397

Finance Government Mortgage 397

Housing Wire

OCTOBER 22, 2020

this week, another record low, Freddie Mac said in a report on Thursday. The rate fell one basis points from the week prior and is now six basis points lower than the original all-time low set in mid-September. As you know, safety and soundness is one, two, and three for us,” said Fannie Mae CEO Hugh Frater. The average U.S.

Mortgage 537

Mortgage Law Housing Market Marketing 537

Housing Wire

JUNE 16, 2022

In addition, a third MSR advisory firm says it now has a number of deals in the works, which together are valued in excess of $60 billion. The package included MSRs for nearly 1,600 Fannie Mae mortgages, valued in total at $376.6 million and for slightly more than 1,000 Freddie Mac loans valued at $241.9 For the $4.8

Mortgage 369

Mortgage Sellers Training Brokerage 369

Housing Wire

SEPTEMBER 1, 2022

Expectations of a continuing aggressive monetary policy led mortgage rates to increase 11 basis points this week, according to the latest survey from Freddie Mac. We are now about halfway through the intermeeting period. According to Freddie Mac, the 15-year fixed-rate purchase mortgage averaged 4.98% with an average of 0.8

Mortgage 370

Mortgage Sellers Housing Market Marketing 370

Housing Wire

MAY 3, 2024

So, there’s opportunity out there, but you’re not selling it to Freddie and Fannie , at least not today.” “The cost to originate a first mortgage is now about $12,500. What’s the disconnect? The result was $2,400 to $3,100 profit per loan if they just used what they had. How that happens is beyond me.

Technology 290

Technology Lending Mortgage Investing 290

Housing Wire

SEPTEMBER 22, 2023

this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve We don’t know what third-quarter growth was. What are the reasons for that? While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5%

Housing Market 450

Housing Market Marketing Buyers Investors 450

Housing Wire

JUNE 6, 2023

We’re thrilled to have a talented, natural leader like Linda spearheading what’s next,” said Jim Ferriter , senior vice president of retail sales at UHM. I found that in the mortgage industry, and I am thrilled it’s now my job to introduce that opportunity to so many,” Thomas said.

Retail 370

Retail Loan Officers Lending Mortgage 370

Housing Wire

MAY 10, 2022

The mortgage-servicing rights (MSR) market went on a tear at the start of 2022, and that hot streak has continued into the second quarter as interest rates on 30-year fixed mortgages continue to rise — now up 2 percentage points since the start of the year and still seemingly upward bound. billion to an eye-popping $12.94

Supply Chain 384

Supply Chain Sellers Mortgage Buyers 384

Appraisal Buzz

AUGUST 9, 2021

Local, State, and Federal policy can play a significant role in an appraiser’s business – it is important to stay informed about what is happening around us. Many, many years ago, the majority of appraisers had no idea what an AMC was. For example, the 2020-2021 USPAP will now be effective until December 31, 2022.

Appraisal 435

Appraisal Inspection Lending Business 435

Housing Wire

APRIL 14, 2023

The type or mix of MSRs sold — Fannie Mae , Freddie Mac or Ginnie Mae serviced loans — will determine the actual pricing for the deal, along with the volume of loans involved, the servicing-fee strip and the quality of the collateral, among other factors. Wells Fargo & Co. billion as of the end of 2022, U.S.

Mortgage 421

Mortgage Marketing Government Finance 421

Housing Wire

MARCH 24, 2023

What I did see were links to lender websites almost apologetically explaining what an appraisal gap is to their customers and willing them not to panic if it happens to them. When you google “ appraisal gap” — and I just did — a long list of search results appear. OK, throw that last one out.)

Appraisal 450

Appraisal Contracts Tools Valuation 450

Housing Wire

MAY 5, 2023

In January, the Federal Housing Finance Agency (FHFA) made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. Eventually, FHFA Director Sandra Thompson issued a statement addressing what the agency saw as misinformation.

Mortgage 395

Mortgage Finance Marketing 395

Housing Wire

MARCH 1, 2021

Once again, Fannie Mae and Freddie Mac boasted the smallest forbearance share with servicers’ portfolios remaining unchanged from the week prior at 2.97%. The FHA and FHFA have been kicking the forbearance can further down the road for months now, giving more borrowers time to recover. Overall, the MBA estimates 2.6

Lending 457

Lending Mortgage Business 457

Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. However, they have several more pressing priorities when it comes to what they’re investing in.

Modernization 485

Modernization Appraisal Lending Investing 485

Housing Wire

SEPTEMBER 30, 2021

And now, the year is almost over, with only one more magazine issue left until we cross over into 2022. But before we head into the new year, this issue will focus on what today’s housing leaders and regulators are zeroed in on and the current state of housing. Start an HW+ Membership now for less than $1 a day.

Finance 370

Finance Mortgage Marketing 370

Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. It’s a simple goal, but as is often the case in U.S.

Loan Officers 370

Loan Officers Insurance Mortgage Real Estate Agent 370

Housing Wire

FEBRUARY 22, 2024

HousingWire Editor in Chief Sarah Wheeler sat down with Jason Cave , former deputy director at the FHFA where he ran their FinTech Office, to talk about where mortgage tech is falling short, and what the government should do to help. Sarah Wheeler: What led you to leave FHFA for the private sector? A month in, I’m enjoying it.

Technology 323

Technology Tools Government Mortgage 323

Housing Wire

DECEMBER 10, 2020

But the credit guarantee is more explicit now than implicit because the GSEs are no longer privately owned, but instead are effectively owned by the federal government through a conservatorship arrangement overseen by the Federal Housing Finance Agency , created in 2008. We all know the story. Post-2008, a few politicians, perhaps the U.S.

Government 380

Government Finance Mortgage Marketing 380

Housing Wire

JULY 1, 2022

billion Fannie Mae , Freddie Mac and Ginnie Mae mortgage-servicing portfolio,” the offering documents state. billion Fannie Mae , Freddie Mac and Ginnie Mae mortgage-servicing portfolio,” the offering documents state. The percentage of Fannie- and Freddie-backed loans in the package is split evenly by value — at 39.3%

Marketing 367

Marketing Valuation Insurance Mortgage 367

Housing Wire

DECEMBER 7, 2020

Fannie Mae said housing would help fuel economic growth in 2020, while Freddie Mac said mortgage rates would stay low, and those have certainly been true. Now, economists are focusing their sights on 2021, and forecasts are more difficult than ever to create. What will happen with COVID-19? Will we have a vaccine?

Real Estate 528

Real Estate Government Mortgage Technology 528

Housing Wire

APRIL 26, 2022

Chopra has also drawn attention to past misdeeds of mortgage servicers in the mortgage-fueled meltdown — now more than a decade ago — in explaining the CFPB’s stance toward servicers now. It is the number one collections item now on people’s credit reports.

Appraisal 384

Appraisal Mortgage Valuation Lending 384

Housing Wire

DECEMBER 13, 2023

Interest-rate and liquidity challenges also negatively impacted the agency ( Fannie Ma e, Freddie Mac and Ginnie Mae ) mortgage-backed securities (MBS) market in 2023. By comparison, agency net MBS issuance in 2021, when interest rates were half of what they are today, came in at $870 billion, according to Amherst.

Mortgage 407

Mortgage Marketing Investors Lending 407

Housing Wire

SEPTEMBER 16, 2020

Mat Ishbia: Certain borrowers, if they have a lower credit score and are not putting any money down and a couple of other nuances, it might be more expensive for them because of all the Fannie Mae and Freddie Mac pricing adjustments. So the broker got paid, Fannie Mae got paid and the borrower still got a thousand dollars back.

Mortgage 466

Mortgage Marketing Technology Loan Officers 466

Housing Wire

OCTOBER 6, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage decreased four basis points last week to 6.66%, after jumping 40 basis points in the previous week, reflecting volatility due to the ongoing economic uncertainty. Right now, they’re the highest since [the Financial Crisis].

Mortgage 370

Mortgage Marketing Loan Officers Retail 370

Housing Wire

MARCH 7, 2024

Federal Reserve Chair Jerome Powell indicated in recent congressional testimony that interest rate hikes are now likely at the “ peak for the current tightening cycle ,” after signaling in November of last year that the Fed was close to the end of its war on inflation. My guess is we’ll do 10 or 11 deals this year in the $5.5

Investors 420

Investors Government Mortgage Investing 420

Housing Wire

AUGUST 14, 2020

But the pace of Fannie Mae and Freddie Mac ’s eventual exit from conservatorship is accelerating, with the development of the capital rule and retention of financial advisors. Unfortunately, as Fannie and Freddie leave conservatorship, market pressures will inevitably build for Fannie and Freddie to revert to volume discounts.

Mortgage 414

Mortgage Insurance Development Government 414

Housing Wire

MAY 4, 2022

The Federal Housing Finance Agency will now require lenders to provide data on borrowers’ language preferences in order to sell loans to Fannie Mae and Freddie Mac , a move which could invite fair lending lawsuits. But what the federal government will do with the data after it is collected is less clear.

Legal 384

Legal Lending Government Loan Officers 384

Housing Wire

JANUARY 27, 2022

Use of the cash window for delivering mortgages to Fannie Mae and Freddie Mac was disrupted in a big way over the course of last year as lenders reacted to expectations that a cap on cash transactions was slated to go into effect by the start of 2022. Bigger producers are going to gravitate toward utilizing swap execution,” he said.

Mortgage 370

Mortgage Investors Finance Contracts 370

Housing Wire

MARCH 3, 2022

For a while now [the concern] was inflation, inflation, inflation and now you throw in [Vladimir] Putin and a war, it creates a flight to quality, which pushes the ball back the other direction, and rates go back down,” said John Toohig, head of whole-loan trading at Raymond James. “For

Marketing 370

Marketing Sellers Mortgage Investors 370

George Dell

MARCH 31, 2021

That’s what seems to have happened. The two largest consumers of appraisals now have pressed for change. Fannie Mae and Freddie Mac have realized the […]. We can do that later. Change and improvement should, normally, come from a profession. The post Postpone Modernization?

Modernization 195

Modernization Clients Appraisal 195