Economy

Laurel Davis, VP, credit risk transfer at Fannie Mae, explains why the switch to a REMIC structure for CAS is important, and why it took so long.

Fannie Mae and Freddie Mac transferred a substantial amount of credit risk to the private sector through both single-family and multifamily market transactions in the first half of the year, with activity expected to rise in 2019, according to the Federal Housing Finance Agency.

When the mortgage giant will be released from government control is anyone's guess, but the company's third-quarter report shows signs of an easier transition.

Fannie Mae has priced more securities that support a transition away from the London interbank offered rate.

High property values and low mortgage rates pushed commercial and multifamily originations beyond their projected totals in 2017 to a new market peak, according to the Mortgage Bankers Association.

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

Donald Layton, who has run the mortgage giant since 2012, discussed the busy agenda leading up to his departure and says Freddie can serve as a "technical adviser" in GSE reform talks.

Managers surveyed by IACPM generall agree a downturn in the current global credit cycle is coming, but aren't yet "willing to put on the brakes."

Fannie Mae has appointed Hugh Frater, a member of its board of directors, to serve as its interim chief executive officer after Timothy Mayopoulos steps down next week, the company said in a statement on Monday.

Fannie Mae and Freddie Mac issued new capital requirements for private mortgage insurers that will create big swings in carriers' asset reserves.