Even though Fannie Mae and Freddie Mac maintained healthy profits in a tough market in the first quarter, their capital shortfalls under the ERCF remained absurdly high. (Includes data table.)
Although some non-agency players may see Freddie’s plan to purchase closed-end seconds as competition, many lenders see a way to create more liquidity in the sector.
Will allowing lenders to omit one of the three credit scores from the underwriting process reduce costs for borrowers or ensure that some unqualified borrowers inadvertently get a loan they can’t afford?
FHFA and HUD have teamed up to initiate a formal request for reconsideration of value for borrowers and sellers who believe their appraised value is undocumented or biased.
In an effort to reduce closing costs for low-income and first-time homebuyers, Freddie will now allow lenders to replace title insurance with attorney opinion letters in all but one state.
A proposal from Freddie Mac to acquire second liens prompted immediate reactions. The GSE rebuts claims that its plan represents “mission creep” or that it would interfere with the existing securitization market for closed-end seconds.
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