Monday, March 16, 2015 1:13:18 PM
By John Bancroft jbancroft@imfpubs.com
Mortgage lenders repurchased or paid losses on $710.1 million of Fannie Mae and Freddie Mac loans during the fourth quarter of 2014, a 31 percent increase from the previous period, according to a new Inside Mortgage Trends analysis of earnings reports.
While increased buybacks are never a good thing for lenders, the 4Q total was the second-lowest repurchase amount disclosed by the two government-sponsored enterprises. The GSEs began filing quarterly repurchase reports with the Securities and Exchange Commission in February 2012.
For the full year in 2014, Fannie reported $2.014 billion of repurchases and Freddie reported $2.031 billion. Those amounts represented sharp declines from the GSEs? repurchases in 2013, 88.4 percent at Fannie and 60.7 percent for Freddie.
Significantly, the buyback issue in 2014 shifted dramatically from pre-conservatorship business to loans originated in the past two years. For more on the story and an exclusive ranking on sellers/servicers by repurchases, see the new edition of Inside Mortgage Trends, now available online.
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
