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FNMA Homekeeper

Fannie Mae Starts to Securitize HECM Portfolio, Issues $9 Billion BofA REMIC

May 31st, 2011  |  by John  |  published in Bank of America, FNMA Homekeeper, GNMA, News, Reverse Mortgage

Fannie Mae (OTC BB: FNMA.OB ) has securitized over $9 billion of HECM reverse mortgages—a little more than 18% of its total portfolio—in one transaction. The government sponsored enterprise issued a Real Estate Mortgage Investment Conduit (REMIC) consisting of $9,255,811,613 HECM loans originated by Bank of America. A REMIC is a type of multiclass mortgage-related security in which [...]


Fannie Mae Seeks Gov. Assistance, HECM Share Falls to 2%

March 1st, 2011  |  by Elizabeth  |  published in FNMA Homekeeper, News, Reverse Mortgage

Despite $73 million in Q4 net income, Fannie Mae reported a fourth-quarter loss of $2.1 billion on Thursday and an annual loss of $14 billion. The annual loss attributable to common stockholders in the fourth quarter of 2010 was $2.1 billion and to eliminate the company’s net worth deficit of $2.5 billion for 2010, the [...]


Ginnie Mae HMBS Issuance Up 26% in 2010

January 16th, 2011  |  by John  |  published in FNMA Homekeeper, GNMA, News, Reverse Mortgage

The Government National Mortgage Association (Ginnie Mae) guaranteed more than $33.5 billion in mortgage backed securities in December. “Ginnie Mae continues to be a vital part of the nation’s economic recovery,” said Ginnie Mae President Ted Tozer. “Clearly, investors appreciate the 100 percent government guarantee. The Ginnie Mae MBS has maintained a strong investor base [...]


Consumers Less Certain Housing Market Has Bottomed says FNMA Survey

November 29th, 2010  |  by John  |  published in FNMA Homekeeper, News, Reverse Mortgage

The number of Americans who believe it’s a good time to purchase a home fell to 68 percent (down 2 percentage points since June) according to the third Quarter 2010 Fannie Mae National Housing Survey. Polled between July 2010 and September 2010, the results show that Americans are less certain the housing market has bottomed.


Fannie Mae Loses $1.3 Billion, Reverse Market Share Falls Below 1%

November 9th, 2010  |  by John  |  published in FNMA Homekeeper, News, Reverse Mortgage

Fannie Mae reported a net loss of $1.3 billion in the third quarter of 2010 on Friday afternoon, up from $1.2 billion in the previous quarter. The company’s net loss attributable to common stockholders was $3.5 billion, including $2.1 billion in dividend payments to the U.S. Treasury.  The GSE said it requested $2.5 billion from [...]


Ginnie Mae to Lift Moratorium on New Reverse Mortgage HMBS Issuers

November 7th, 2010  |  by John  |  published in FNMA Homekeeper, GNMA, News, Reverse Mortgage

More than six months after suspending the approval of new HMBS issuers, Ginnie Mae President Ted Tozer announced it will lift the moratorium in December during a speech at the National Reverse Mortgage Lenders Association’s annual conference in New Orleans. While the announcement was welcome news, Tozer failed to bring the most important piece of [...]


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