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  • Latest Mortgage News You Should Know

    "GSE Seller Buybacks Tumbled to Record Low in 4Q16

    Fannie Mae and Freddie Mac reported record lows in the volume of mortgages that sellers repurchased during the fourth quarter of 2016 because of manufacturing defects, an exclusive new Inside Mortgage Trends analysis reveals.

    Mortgage seller repurchases or other indemnification to the two GSEs totaled $207.31 million in the final three months of 2016. That was down 37.0 percent from the previous quarter and represented the lowest three-month total since the GSEs began filing repurchase disclosures with the Securities and Exchange Commission back in early 2012."

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    "Trouble Ahead: Gain-on-Sale Margins Slipping 

    With rates up since the November election and refinancings slipping quite noticeably, mortgage gain-on-sale margins for the first quarter are getting nicked.

    At least that’s the conclusion of a new report from Piper Jaffray, which found that during the first half of 1Q17 GOS is tracking at about 88 basis points compared to 94 bps in 4Q16 and 106 bps in 3Q16. Piper’s calculation is tied to the publicly traded depositories it tracks"

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    "Incenter Selling Fannie/Freddie Mortgage Servicing Rights

    Incenter Mortgage Advisors, Denver, is out in the market with a $1.2 billion package of bulk servicing rights collateralized by Fannie Mae and Freddie Mac residential loans.

    The seller, whose identity was not revealed, is described in the offering circular as an “independent mortgage banker with strong net worth and an experienced senior management team.”