Tag Archives: Fannie Mae

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.

Optimism among consumers about the housing market has reached new survey highs and strong job and income growth are making consumers appear more favorable in the selling market, indicating a possible increase in the existing home supply.

Cloud-based data exchange provider NetDirector, headquartered in Tampa, Florida, has announced the launch of an integration with the Default Managing Reporting System (DMRS) of Fannie Mae, according to an announcement from NetDirector.

The lawsuit against RBS in the Connecticut court involved the selling of about $32 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. The bank had set aside about $3 billion for a possible settlement but reports surfaced that the FHFA might ask as much as $7.7 billion.

The newspaper has asked the Court to remove the protected information tag from the depositions of Edward DeMarco, who was the director of the Federal Housing Finance Administration from 2009 to 2014, and Mario Ugoletti, who was a senior official with the U.S. Department of Treasury in 2008 when the government bailed out Fannie Mae and Freddie Mac at a combined price of $187.5 billion.

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.

In May, the GSE's gross mortgage portfolio shrank at a compound annualized rate of 25.9 percent, from $405.1 billion down to $395.1 billion. It was the first time since before the conservatorship began in September 2008 that the value of the gross mortgage portfolio dipped below $4 billion.

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.

The average loan-to-value (LTV) ratio for new business decreased at both Enterprises as refinances surpassed purchase mortgage originations, which generally have higher LTV ratios. The report said that borrowers were more inclined to use the Enterprises’ refinance programs that focus mainly on deeply underwater borrowers, including the Home Affordable Refinance Program (HARP).

Judge Gloria Navarro ruled in the case of Skylights LLC v. Byron that federal law prohibited a state-law HOA foreclosure from extinguishing a first deed of trust that is guaranteed by one of the government-sponsored enterprises.