The State of Fannie Mae’s Portfolio

first_img Fannie Mae’s mortgage portfolio totaled $176 billion at the end of May 2019, according to its latest Monthly Summary, with the total of Fannie Mae mortgage-backed securities (MBS) and other guarantees reaching $3.172 trillion. The GSE completed $28 billion in mortgage purchases in May, and $24 billion in sales. Additionally, Fannie’s Conventional Single-Family Serious Delinquency Rate decreased to 0.70% in May while the Multifamily Serious Delinquency Rate increased to 0.07%. Fannie’s May summary also notes that it completed $52.9 billion in new business acquisitions. According tot he summary, Fannie Mae’s Book of Business increased at a compound annualized rate of 4.7% in May.  The summary notes that the Fannie Mae completed 4,589 loan modifications in May, and now has over $46.6 billion in MBS in its portfolio.Combined, Fannie Mae and Freddie Mac completed 38,968 foreclosure prevention actions in Q1 2019, bringing the total number of foreclosure prevention actions to 4,322,804 since September 2008, according to the latest Federal Housing Finance Agency (FHFA) Foreclosure Prevention Report.Of the over four million foreclosure prevention actions taken by the GSEs, the FHFA notes that actions, 3,629,411 have helped troubled homeowners stay in their homes, including 2,336,047 permanent loan modifications. Additionally, around 38% of loan modifications completed in Q1 reduced borrowers’ monthly payments by more than 20%.FHFA’s report also includes total numbers of home forfeiture actions. According to the report, Fannie Mae and Freddie Mac completed 1,542 short sales and deeds in lieu in the first quarter, bringing the total to 693,393 since conservatorship began.“The number of completed short sales and deeds in lieu decreased 13% in the first quarter compared with the fourth quarter of 2018,” the FHFA states. “These foreclosure alternatives help to reduce the severity of losses resulting from a borrower’s default and minimize the impact of foreclosures on borrowers, communities, and neighborhoods.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Fannie Mae MBS Mortgage Rates 2019-07-01 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Housing Market Snapshot: Delinquencies, Prepayments, and Refi Potential Next: Report: Investors Not Buying Into Housing Market Demand Propels Home Prices Upward 2 days ago The State of Fannie Mae’s Portfolio Tagged with: Fannie Mae MBS Mortgage Rates Home / Daily Dose / The State of Fannie Mae’s Portfolio About Author: Seth Welborn Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. July 1, 2019 1,670 Views  Print This Post The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Investment, Market Studies, News Subscribelast_img read more

Director speaks on alleviating financial concerns of college students

first_imgSarah Olson | The Observer Director of the Office of Student Enrichment Marc Burdell, a Notre Dame alumnus, speaks Monday night about decreasing the cost of a Notre Dame experience for low-income students through funding.The Office of Student Enrichment — founded in late 2015 — was the topic of conversation at the diversity and inclusion lecture series Monday night at Debartolo Hall. Director of the Office of Student Enrichment Marc Burdell spoke about the Office’s founding and its purpose — to help make Notre Dame financially feasible for low-income students.“The task was to figure out how to put together a new office that would really figure out how all of our students, regardless of socioeconomic status, first generation college status, non-traditional background or anything else for that matter, could feel welcome at the university,” Burdell said.Burdell, a Notre Dame alumnus, said he was particularly motivated to work in the office because he himself came from humble beginnings.“I showed up in 1983 without a winter coat, my dad worked in a grocery store and I was the first in my family to go to college,” Burdell said. “I didn’t have a dime, but it was awesome. I had the greatest experience.”Burdell said leaving for college as a low-income student brings with it many complications.“You don’t just unplug from your family’s situation,” Burdell said. “Many of our students here were helping to raise their families, helping to support their families and helping run their families. When they left, there’s a void there and there are also some feelings of guilt.”To help students deal with such issues, Burdell said the office has set up a peer-advising program.“We try to pair students who have been here and have gone through certain things with students who just got here and are likely going to go through similar experiences,” Burdell said.Due to its relatively recent founding, Burdell said one of the office’s priorities is to educate students on the office and the resources it can provide.“We need to inform our community and our campus as to what’s going on,” Burdell said. “We put a lot of time into making these presentations, having these conversations and really informing all of campus as to what we’re trying to do.”Thus far, Burdell said one of his main focuses has been to hear as many student voices as possible.“We have probably talked one-on-one or in small groups with somewhere between 700 and 800 students over the past 18 months,” he said.Burdell said he has learned that students are most concerned about financial aid and ensuring that money does not hold them back from having the Notre Dame experience. To help this problem, Burdell said the Office of Student Enrichment offers the Student Experience Fund, which is funded entirely by profits from The Shirt.“If you say ‘Hey, I need help with this or that, or I want to go to this conference, or I want to go to my dorm’s dance’, then the fund can probably help you out,” he said.Additionally, Burdell said the Office launched the Fighting Irish Scholars Pilot program this year, which aims to better fund 55 high-achieving, under-resourced students by providing them with $1,000 in cash and $1,000 in Domer Dollars.“We give this money to the students and let them decide on their own how to budget, how to choose their experience and how to meet their own needs,” Burdell said. “We’re not going to tell them how to do it.”Correction: An earlier version of this story incorrectly stated Burdell spoke to the financial burden of a Notre Dame education. Burdell addressed financial concerns of students related to the campus experience and outside the cost of attendance. The Observer regrets this error.Tags: Diversity, inclusion, Office of Student Enrichmentlast_img read more