Although outstanding advances increased slightly in the second quarter, most large banks and thrifts cut FHLBank borrowing from first-quarter levels. (Includes two data tables.)
Even with the implementation of new asset haircuts and other restrictions into the private mortgage insurance eligibility requirements framework, GSE-approved insurers say they will still have large available asset buffers.
Freddie Mac bulletins clarify how single-family sellers should deal with self-employed income and the types of public records searches required for multifamily sellers.
OIG auditors were able to access the IT accounts of 179 agency employees, including one “privileged user,” who were still using the default passwords to protect their computers and accounts.
The FHFA watchdog said the Division of Home Loan Bank Regulation should provide more explicit guidance on how the FHLBanks coordinate with other regulators.
High interest rates may mean lower acquisition volumes for the GSEs, but they also mean slower prepayment speeds for the mortgages in the agencies’ guarantee books of business. (Includes data table.)
Senate Democrats note that FHLBank Boston CEO Timothy Barrett received $3.1 million in compensation last year while the bank contributed just $2 million to its affordable housing program.
FHFA’s recent decision to waive loan-level price adjustments for the low-income financing programs of the GSEs means that borrowers can sometimes get lower interest rates through HomeReady and Home Possible than they can using traditional GSE financing.