article thumbnail

Northpointe Bank to shutter its correspondent lending business

Housing Wire

Northpointe, a private depository institution insured by the Federal Deposit Insurance Corporation (FDIC), was established in 1999 with a focus on residential mortgage loan origination and servicing. Northpointe became an approved seller and servicer for Freddie Mac in 2013, Fannie Mae in 2014 and Ginnie Mae in 2016.

Lending 381
article thumbnail

CRT protects GSEs, taxpayers from unexpected disasters

Housing Wire

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

Insurance 349
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Freddie Mac unveils offer for up to $2.2B in CRT notes

Housing Wire

Through the STACR note offerings, private investors participate with Freddie Mac in sharing a portion of the mortgage credit risk in the reference loan pools retained by the agency. billion via five STACR and three Agency Credit Insurance Structure (ACIS) CRT deals. billion in risk from reference pools valued at $300.9

Investors 378
article thumbnail

Download these 9 real estate prospecting letter templates that actually work

Housing Wire

If you want to think outside the box, consider partnering with an ambitious insurance agent who offers both rent and homeowners insurance. Targeting investors and tailoring your real estate prospecting letters to their needs and is very smart. I work with many investors and want to introduce myself as a resource to you.

article thumbnail

CoreLogic stockholders will decide board’s fate on Nov. 17

Housing Wire

Adopting a “poison pill” strategy, Corelogic approved a shareholder-rights plan that prevents investors from acquiring 10% or more of the company’s common stock, or 20% in the case of certain passive investors.

Investing 324
article thumbnail

Opinion: GSE policy changes are positive for small lenders

Housing Wire

CHLA is calling on FHFA to take the additional step of barring volume discounts for large lenders in mortgage insurance (MI) coverage of high-LTV GSE loans. FHA is overcharging for its loans – both in the annual premiums it charges and its policy since 2013 of charging premiums for the Life of the Loan.

Mortgage 414
article thumbnail

Fannie Mae finalizes two additional credit insurance risk transfers

Housing Wire

On the heels of completing its first credit insurance risk transfer (CIRT) deal of the year in early March, Fannie Mae has announced that it has executed two additional CIRT deals. . billion of mortgage credit risk to private insurers and reinsurers. “We The newest deals, CIRT 2022-2 and CIRT 2022-3, together transferred $1.8

Insurance 368