Mortgages MAX

Posted To: MND NewsWire
Fannie Mae's mortgage investment portfolio shrank for the second straight month in February while the most recent available data showed delinquencies in loans held by the nation's largest provider of home mortgages are continuing to rise at an almost inexorable rate. Fannie Mae's Monthly Summary for February reports that the gross mortgage portfolio declined to a value of $725.9 billion compared to $735.21 billion in January, a decrease of 14.2 percent. One year earlier the portfolio was sized at $784.72 billion, so despite many fluctuations over the year, February's figures represent an annualized one-year decrease of 31.2 percent. The total book of business of the firm was $3.230 trillion at the end of February compared to $3.227 in January, a compound growth of 1.0 percent…(read more)
Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Brought to you [...]

Original post by Adam Quinones

Posted To: Pipeline Press
People, especially in Rhode Island, are wondering, " What is happening with that darned flood insurance? " Obviously private flood insurance is not impacted by what is happening . A few weeks ago, the House passed H.R. 4851 which extended the authority of the National Flood Insurance Program (NFIP) to issue new and renewal flood insurance policies and increase coverage on existing policies the insurance through April. But then the Senators all flew home for a two week Easter vacation. They are expected to renew/extend the insurance, but until then many investors are informing clients of their own policies. Freddie Mac's policies on flood insurance remain unchanged : "Seller/Servicers originating mortgages for sale to Freddie Mac must continue to perform flood zone determinations…(read more)
Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Brought to you by [...]

Original post by Rob Chrisman