Fannie Mae’s Gross Mortgage Portfolio Takes Another Tumble in December

first_img Tagged with: Fannie Mae Gross Mortgage Portfolio Monthly Summary Mortgage-Backed Securities Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Secondary Market Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Fannie Mae’s gross mortgage portfolio continued its downward trend in December, falling at a compound annualized rate of 26.4 percent, according to Fannie Mae’s December 2014 Monthly Summary released recently.The value of Fannie Mae’s mortgage portfolio fell from $424 billion in November down to $413 billion in December. Since the end of June 2010, when the value of the portfolio stood at $818 billion, its compound annualized rate has declined in 53 of the last 54 months. The only month during that time when the portfolio grew was in December 2012, when it increased by 1 percent.For the entire year of 2014, the average compound annualized rate for the enterprises’s gross mortgage portfolio was 15.8 percent. In four different months during 2014, it declined at a compound annualized rate of more than 20 percent, including a high of 28.9 percent from October to November. The 2014 average compound annualized monthly decline rate of 15.8 percent is still an improvement from 2013, when the average monthly decrease was 22.5 percent.December’s compound annualized rate decline of 26.4 percent for the gross mortgage portfolio was the eighth-highest rate for any one month since the FHFA’s conservatorship of Fannie Mae began in September 2008. The highest rate of decline occurred in January 2010, when it dropped by 44.8 percent.”As per the Senior Preferred Stock Purchase Agreement with Treasury, Fannie Mae was required to reduce the size of its gross mortgage portfolio to $469.6 billion by December 31, 2014,” Fannie Mae spokeswoman Katherine Constantinou said. “In October 2014, FHFA requested an additional annual reduction of 10 percent, which revised the portfolio cap to $422.7 billion for the year ended 2014.”Despite the large dropoff in Fannie Mae’s gross mortgage portfolio in December, other components propelled the overall Book of Business to a compound annualized rate increase of 1.6 percent from November, according to the summary. It was the third time in the last four months the overall Book of Business has grown following eight straight months of decline to begin 2014.Monthly increases in new business acquisitions and total Fannie Mae mortgage-backed securities and other guarantees pushed the value of the Big Book of Business up to $3.124 trillion in December, up from $3.119 trillion in November.Also in December, the serious delinquency rate on Fannie Mae’s conventional single-family mortgage loans declined by two basis points from November down to 1.89 percent. December marked the 37th month in a row the serious delinquency rate declined at least one basis point month-over-month; the last time the rate did not decline was when it held steady at 4.0 percent from October to November 2011.”As a result of home retention solutions, foreclosure alternatives, and completed foreclosures, as well as the company’s acquisition of loans with stronger credit profiles since the beginning of 2009, Fannie Mae’s single-family serious delinquency rate has declined each quarter since the first quarter of 2010,” Constantinou said.The value of Fannie Mae’s mortgage-backed securities and other guarantees totaled $2.803 trillion in December, representing an annualized compound rate month-over-month increase of 5.5 percent – marking the fourth time in the last sixth months the total value of Fannie Mae MBS has expanded after starting 2014 with six straight months of decline. For the entire year of 2014, the value of Fannie Mae’s MBS and other guarantees remained nearly unchanged from its value at the end of the previous year – $2.083564 trillion in 2014 compared to $2.083849 trillion at the end of 2013.The number of loan modifications Fannie Mae completed in December (8,951) also increased from November (7,417), giving the enterprise 122,823 loan mods for the entire year of 2014 – an average of 10,235 per month.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Home / Daily Dose / Fannie Mae’s Gross Mortgage Portfolio Takes Another Tumble in December February 2, 2015 947 Views Related Articles Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: HUD Provides Guidance for Use of Housing Trust Fund Allocations Next: Servicers Name Property Preservation as Biggest Challenge With FHA Loans The Best Markets For Residential Property Investors 2 days ago Fannie Mae Gross Mortgage Portfolio Monthly Summary Mortgage-Backed Securities 2015-02-02 Brian Honea Fannie Mae’s Gross Mortgage Portfolio Takes Another Tumble in December Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Don’t Worry About Cash-out Refis Just Yet

first_img Servicers Navigate the Post-Pandemic World 2 days ago Don’t Worry About Cash-out Refis Just Yet The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News, Secondary Market  Print This Post About Author: Radhika Ojha October 30, 2018 2,863 Views Cash-out Home Equity Homeowners loans mortgage Refinance Urban Institute 2018-10-30 Radhika Ojha Cash-out refinancing is rising, but the Urban Institute gives three reasons why the growing share is no reason for concern just yet.According to a blog by Urban Institute’s Housing and Finance Policy Center, the share of refinance loans where borrowers increase their loan balance to extract equity from their home has reached the highest point since 2008 and stood at 77 percent of total refinances in the second quarter of 2018. However, the volume of home equity cashed out was still below crisis peak totaling $15.8 billion during the quarter far below the highs between $75 billion and $85 billion during the pre-crisis years.Apart from the low volume, the report gave three additional reasons as to why it wasn’t time yet to ring the alarm bells.First, cash-out refinance share was strongly correlated with home price appreciation and rising interest rates. This meant that homeowners typically chose to refinance their mortgage to lower their monthly payment by obtaining a lower interest rate or to extract equity from their home. The current environment of rising rates and strong home price appreciation, the report pointed out, was driving the higher cash-out refinance share and as homes increased in value, borrowers got an added incentive to refinance their loans and tap into their mounting equity.According to the Urban Institute, the second reason was that the share of cash-out refinance to total production was in line with historic trends. Putting the numbers in context, the report said that Over the past few months, the overall refinance share of total mortgage loans was at or near the lowest point in years, largely because rising interest rates made rate refinances unattractive to most mortgage holders. “Refinance loans make up such a small share of total loan production—currently below 30 percent for Freddie Mac—so the cash-out refinance share of all loans is still within a reasonable range and below the dangerous levels of the crisis years,” the Urban Institute said in its blog.Lastly, the report revealed that borrowers were extracting less equity than they did during the financial crisis. Giving a historical perspective, the report said that in 2006, cash-out dollars as a share of refinanced originations peaked at 31 percent, meaning that borrowers then were extracting a significant portion of their equity. “Today, cash-out dollars as a share of all refinanced originations is 21 percent and has averaged just below 8 percent since the crisis. Part of this reflects the fact that Fannie Mae, Freddie Mac, and the Federal Housing Administration have lowered the maximum loan-to-value ratio for cash-out refinances, reducing the amount of cash that can be extracted,” the report said. Demand Propels Home Prices Upward 2 days ago Tagged with: Cash-out Home Equity Homeowners loans mortgage Refinance Urban Institute Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Sign up for DS News Daily Previous: A Comeback With A Twist Next: Scaring Up Home Values The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Home / Daily Dose / Don’t Worry About Cash-out Refis Just Yet Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articleslast_img read more

Who could resist this house with this gorgeous dog helping selling it

first_img56 Tarm St, Wavell Heights. Picture: realestate.com.auThe six-bedroom Hamptons style home is listed through Tristan Rowland of Place — Aspley.The main bedroom has a large walk-in-robe. The ensuite has a large vanity with Caesarstone benchtops, two recessed basins and matt black tapware.A palatial home at 2739 Moggill Rd, Pinjarra Hills has made the most popular list again this week. The five-bedroom Italian villa style home is three levels and has an internal lift. 21 Uplands Drive, Parkwood, Picture: realestate.com.auMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoThe home has a lot going for it, aside from the cute pooch who currently lives thereThe Queenslander has an open plan living area and a double sided open fire place. There are wrap around verandas and the main bedroom has a private terrace.There is also self-contained guest accommodation downstairs. The property has a swimming pool and gazebo.No cute dog in the photos of this one, but 56 Tarm St, Wavell Heights was the second most popular real estate listing this week. 79 Leicester St, Coorparoo. Picture: realestate.com.auOn the lower level is a fully self-contained area with a separate street entrance. On the upper level are three-metre high ceilings, VJ walls and timber picture rails. The home is listed through Jose Peralta of Ray White — Carina.Rounding out the top five most views home this week is a five-bedroom home at 22 Ben St, Chermside West listed for offers of more than $1,100,000. 21 Uplands Drive, Parkwood, Picture: realestate.com.auThe five-bedroom home is listed for auction through Lisa Halpin of Savills Gold Coast on October 29. Who could resist this property with a pooch like this to greet you. 21 Uplands Drive, Parkwood. Picture: realestate.com.auWHO could resist this house with this gorgeous dog helping sell it?The house at 21 Uplands Drive, Parkwood was the most viewed property on realestate.com.au in Queensland this week.center_img 21 Uplands Drive, Parkwood, Picture: realestate.com.au 2739 Moggill Rd, Pinjarra Hills. Picture: realestate.com.auIt has detailed wall lighting, dark timber, parquetry flooring, high ceilings, wide hallways and traditional furnishings and is listed through Emil Juresicof NGU Real Estate.The next most viewed home on realestate.com.au this week was 79 Leicester St, Coorparoo. The three-bedroom 1925 character home is listed for $620,000 — $670,000. 22 Ben St, Chermside West. Picture: realestate.com.auThe home is o a 1012sq m block of land which is high enough to capture ocean views toward Moreton Island and Stradbroke Island. It is listed through Tristan Rowland of Place — Aspley.last_img read more

Coudray’s murder suspect charged.

first_img Sharing is caring! NewsRegional Coudray’s murder suspect charged. by: – July 2, 2012 Share Tweet 71 Views   no discussionscenter_img Share Share Michelle Coudray-Greaves, who was estranged from her Jamaican husband, retuned to Jamaica at the end of May after a brief visit home with her mother.PORT OF SPAIN, Trinidad and Tobago, Monday, July 2, 2012 – A 46-year-old taxi driver from Westmoreland in Jamaica has reportedly been charged with last month’s shocking kidnapping and slaying of Trinidadian Michelle Coudray-Greaves in the northern Jamaican city of Montego Bay.According to media reports, Jamaican police charged Taylor late Saturday (June 30) after having him in custody for the past three weeks and he is due to appear before a Resident Magistrate’s Court in Montego Bay this week.The 39-year-old Coudray-Greaves was the eldest daughter of Marlene Coudray, the recently appointed minister of gender, youth and child development.Minister Coudray reportedly told the Trinidad Express that she was “happy” that someone was arrested and charged.She said she knew what was happening because she kept in contact with the police in Jamaica.“I am satisfied with the investigation. They (Jamaican police) have been helpful since the time I arrived in Jamaica and I asked them to explore all areas.”However, she is also reported to have said that she believes another person was involved in her daughter’s murder.Coudray-Greaves, who was estranged from her Jamaican husband, retuned to Jamaica at the end of May after a brief visit home with her mother, the former Mayor of San Fernando and her three children, who were living in Trinidad. The former Spanish teacher at a high school in Montego Bay was reported missing on June 8.Her burned body was discovered in a cane field on June 11 and an autopsy found she was killed by blows from a blunt object. Although previously thought to be part of the crime cover-up, it was revealed that her body had accidentally been burned by plantation workers clearing the field.Taylor of Lindos Hill, Withorn in Westmoreland, became a suspect after Coudray-Greaves was reportedly seen getting into a taxi near her apartment in Montego Bay before she went missing. The suspect was said to have been known to Coudray-Greaves for a year.Caribbean 360 Newslast_img read more

‘They have to look in the mirror’

first_imgWindies legend Roberts insists better infrastructure won’t help WI batsmen LEGENDARY West Indian fast bowler Sir Andy Roberts has pointed to a poor work ethic on the part of the region’s batsmen as a major factor in the team’s inability to take a step up to the next level.Following the promising start but a disastrous end to the tour of England, a lot of discussions surrounding how to improve the team’s performance focussed on increased technological infrastructure around the region.The typically fiery former pace bowler was, however, quick to point out that such investment is unlikely to make a difference if the attitude and work ethics of the batsmen do not improve.“Infrastructure will not make you a better player.  You have to make yourself a better player and I don’t think the commitment is there from a lot of West Indies players,” Roberts told the Mason and Guest radio programme.“It’s not just the Test players but a lot of people who play cricket in the West Indies. I don’t think they commit themselves enough.  If you did, you would not be averaging 30 in first-class cricket and that is what we are getting.”In the recently concluded series, it was Jermaine Blackwood that averaged the most for the team with 35.17 but he was the only one to get to 30.  Overall, for the series, the team averaged closer to 20.  In fact, the team’s highest batting average in a Test series consisting of at least two matches since 2017 is 34.66 and that was against Zimbabwe in 2017.“You can’t beat any quality team with that type of average.  So, our guys first have to stand up in front of the mirror and think: what am I doing to improve myself? Because, until our players improve their batting we are not going to score runs against a strong team.” (Sportsmax).last_img read more