Items Tagged with 'FHFA'

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FHFA: Home prices increase again, rise 1.3%

Marks 19 consecutive quarterly price increases
While home prices only increased a meager 1.3% in the first quarter of 2016, it’s added onto a long string of increases; 19 consecutive quarterly price increases to be exact. According to FHFA Supervisory Economist Andrew Leventis, there is at least one unique factor in this quarter.
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There's no consensus on GSE reform, but there is this

Revolution deadline, TBD
After attending a conference with some of the top investors in housing, I’ve come to realize housing is as close to solving GSE reform as it is in solving "which came first, the chicken or the egg?" But amid all the opinions and solutions discussed, there was one session right before I headed back to Dallas that tossed out an opinion I think needs to be mentioned.
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FHFA: More than 3.4 million homeowners used HARP

A little more than 6 months left
The Home Affordable Refinance Program comes to a close this year. Now the FHFA will put in its last efforts to encourage homeowners to take advantage. But, before we all wave a teary goodbye, here are some stats offering a snapshot of the epic, Federal program.
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Freddie Mac posts second NPL sale of 2016

One $135M pool
Freddie Mac announced plans for its second non-performing loan sale of the year. While it’s not nearly as much as the $1.6 billion transaction announced at the start of the year, there’s still $135 million up for grabs.
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Freddie Mac's rough first quarter will likely embolden calls for GSE reform

Vocal critics of GSE capital structure hold new card to play
If you listen closely, you can hear the noise surrounding the recapitalization and release of the government-sponsored enterprises from conservatorship getting louder thanks to Freddie Mac reporting a loss of $354 million in the first quarter. Now all those who want to see an end to the GSE conservatorship for whatever their particular motivation is have a new card to play. And they will play it.
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Former president of Ginnie Mae: Agency should split from HUD

It's time to reconsider Ginnie Mae's role within HUD
Ginnie Mae would be considered a blue-chip institution in the private sector but is unable to plot its own budgetary course, which is a major impediment to growth and stability. Today, Ginnie is a success story. It has outgrown its role as a specialist supporting HUD and, instead, has ballooned to become a core industry driver. Something needs to change.
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Freddie Mac reports $354M net loss in first quarter

But no draw needed from U.S. Treasury
Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its $2.2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the GSE's net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results.
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Fannie Mae announces plans to securitize re-performing loans

Mortgage bonds built on previously delinquent loans coming later this year
Less than two weeks after the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will be reducing the principal on as many as 33,000 delinquent or underwater borrowers, Fannie Mae announced it now plans to begin securitizing loans that were once delinquent.
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FHFA announces new rules for non-performing loan buyers

Buyers must evaluate certain borrowers for modification
According to the FHFA, analysts and advocates have raised concerns that investors may walk away from the most challenging loans in NPL pools, leaving vacant houses in neighborhoods and contributing to blight and decay.
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