Fannie Mae and Freddie Mac in a few days are expected to report second-quarter results that likely will top earnings of the prior period when they posted a combined net profit of $6.5 billion, according to an analysis by Inside MBS & ABS.
According to the newspaper, Watt – a former Democratic Congressman from North Carolina – is under investigation for alleged sexual harassment of an employee.
Fannie Mae recently announced plans to simplify its private mortgage insurance cancellation policy. In a letter that went out to lenders last week, the government-sponsored enterprise updated the different methods for verifying current property values.