Tag Archives: Fannie Mae

The new requirements are expected to allow the GSEs to operate smoothly by providing greater transparency, clarity and consistency to industry participants and other stakeholders, and reflect feedback received over the past several months.

The latest note offering in the CAS series (Series 2015-C02) is scheduled to settle on May 27 and is consistent with prior transactions. This transaction includes reference loans with original LTVs up to 97 percent, according to Fannie Mae.

Currently their line of credit with Treasury would provide about 5 percent capitalization and the current guarantee fee of 63 basis points would provide about 3 percent; they would need to increase their G-fees by about 27 basis points to raise the additional 2 percent capital.

SW Sponsor, LLC, was the winning bidder for Pool No.1 , which included 710 loans with an aggregate UPB of $173.8 million; the winning bidder for Pool No. 2, which included 2,358 loans with an aggregate UPB of $587.9 million, was Neuberger Berman Fixed Income Funds’ affiliate PRMF Acquisition LLC.

According to the FHFA, the initial goal was to assist in building a Common Securitization Platform (CSP) and support the statutory obligation to ensure the liquidity of the nation’s housing finance markets issued by the FHFA. Taxpayers would also not have to suffer the cost of subsidizing Freddie Mac’s securitization of single-family mortgage loans with the Single Security.

Ocwen first announced on March 2 it had signed a letter of intent to sell the the $45 billion portfolio, which includes about 266,000 high-quality Fannie Mae loans, to an anonymous buyer. Media reports that surfaced later that week indicated that the buyer was Chase, which was confirmed on Thursday by both parties in the transaction. For Chase, purchasing the high-quality Agency loans is consistent with the New York-based bank's strategy of enhancing the quality of its mortgage business.

The nearly two-month long court battle between the Federal Housing Finance Agency (FHFA) and Nomura Holdings came to an end Monday when a federal judge found the bank liable for selling shoddy mortgages to Fannie Mae and Freddie Mac prior to the 2008 financial crisis.

Fannie Mae's comprehensive income for Q1 was reported at $1.8 billion, up from $1.3 billion in Q4. The Enterprise reported a net worth of $3.6 billion as of the end of Q1, which will result in a payment of $1.8 billion to the Department of Treasury in June per the terms of a 2012 amendment to the 2008 bailout agreement. Following the forthcoming June payment, Fannie Mae will have paid $138.2 billion in dividends to Treasury – about $22.1 billion more than the $116.1 billion bailout Fannie Mae received from taxpayers in 2008 to continue operations.

Consumer sentiment toward the economy took a slight step backward in April, with the percentage of respondents who said the economy is on the right track fell by one percentage point down to 42 percent. Meanwhile, the share who said the economy is on the wrong track increased by one percentage point up to 49 percent.

Fitch Ratings affirmed that while Fannie Mae and Freddie Mac maintained a "Stable Rating Outlook" in April due to direct financial support from the U.S. government, the ratings company said it expected the controversial FHFA's conservatorship of the two Enterprises would continue indefinitely.