Tag Archives: Fannie Mae

Fannie Mae announced the winning bidder for its second-ever sale of deeply delinquent non-performing loans (NPLs) on Thursday, which included approximately 3,900 loans.

The proposed housing goals rule for the GSEs was first issued in August 2014. More than 144 comments were made on the proposed rule, all of which were considered by the FHFA in the development of the final rule. According to the FHFA, the final rule sets identical benchmarks in all categories for both Fannie Mae and Freddie Mac.

The latest transaction, CIRT-2015-2, became effective on July 1, 2015, with Fannie Mae retaining the risk for the first 50 basis points of loss on an $8.1 billion pool of loans.

As they promised earlier this year, Fannie Mae and Freddie Mac have intensified their efforts in the last few months to rid their single-family residential mortgage portfolios of deeply delinquent, non-performing loans (NPLs).

More than half of the total foreclosure prevention actions completed by the FHFA in nearly seven years (1.82 million) have come in the form of permanent loan modifications, according to FHFA.

With more Americans worried about where the economy is headed, fewer are optimistic about the prospect of selling their homes, according to Fannie Mae’s July National Housing Survey, released Friday.

Fannie Mae and Freddie Mac have combined to help approximately 121,000 homeowners avoid foreclosure through a variety of both retention and non-retention solutions through the first six months of 2015.

The quarter-over-quarter increase in net income for Q2 2015 was largely driven by fair value gains, offset by credit-related expense that was negatively affected by an increase in interest rates. Fannie Mae's net fair value gains in Q2 totaled $2.6 billion, compared with losses of $1.9 billion in Q1.

The recent rollout of Fannie Mae's Collateral Underwriter (CU) parallels the Y2K experience of 15 years ago. Leading up to its implementation, some appraisers panicked and unfounded fears ran rampant.

The National Housing Survey from Fannie Mae contains data that suggests that homeowners who are underestimating how much equity they have in their homes may also be underestimating in other areas, such as how large of a downpayment they could make with that equity; their chances of qualifying for a mortgage, assuming they need a large downpayment; and their opportunities for selling their house and buying another one.