The company believes delivering loans to agency MBS helps it be a “high velocity, capital light and cash generating” operation. This year, the firm has held mortgages on its balance sheet for as few as eight days.
The CRT market is showing signs of post-pandemic recovery. But Freddie Mac’s former CEO believes the re-proposed capital rule for the GSEs could make the whole CRT program pointless.
Repurchases of delinquent loans from Ginnie MBS pools jumped sharply in May, including a significant number of performing loans under COVID-19 forbearance plans. (Includes data chart.)
Instead of larger, multi-issuer uniform MBS pools, FHFA wants seller/servicers to closely monitor the prepayment speeds of their broker/correspondent channels to ensure closer alignment of Fannie/Freddie pools.
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