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GSEs Partner With Industry to Form Advisory Group For Common Securitization Platform

GSE, Fannie Mae, Freddie Mac News, Mortgage Finance

The CSP is a technology and operational platform that is being developed by CSS, the companies said. This new development is a new venture of both Freddie Mac and Fannie Mae. CSP will perform many of the core back office operations for the Single Security, as well as most of the Enterprises' current securitization functions for single-family mortgages, on behalf of the Enterprises.

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Freddie Mac Encourages Homebuyers to Utilize Housing Counselors

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Counseling may reduce the risk of a first-time homebuyer becoming seriously delinquent by an average of 29 percent on affordable mortgages that required pre-purchase housing counseling, according to research from Freddie Mac. The study also found that one-on-one counseling, classroom counseling, and home study via the Internet, which are the three most common types of housing counseling, are equally effective.

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Fannie Mae and Freddie Mac CEOs Receive Multi-Million Dollar Pay Increases

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The SEC outlined that Fannie Mae and Freddie Mac CEOs' direct compensation will consist of an annual base salary of $750,000, fixed deferred salary at an annual rate of $2.05 million, and at-risk deferred salary with an annual target amount of $1.2 million, totaling $4 million. The at-risk deferred salary is based on performance and can be reduced. These amounts will be prorated for 2015 and both executives have the same structure that applies to other executives within the GSEs.

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Average Guarantee Fees on GSE Loans Are Two and a Half Times Their 2009 Level

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According to the FHFA report, the average level of guarantee fees charged has increased since 2009, when the report began. The guarantee fees are now two-and-a-half times their previous level from 2009 to 2014. The average fees increased from 22 basis points to 58 basis points from 2009 to 2014. From 2013 to 2014, average fees increased from 51 basis points to 58 basis points.

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