Appraisers have dramatically reduced the use of prohibited words in their valuations, a sign Fannie has made strides in limiting bias against protected classes.
Fannie Mae and Freddie Mac accounted for 44.1% of all mortgage originations in 2023, compared with 48.6% in 2022 and more than 58% in both 2021 and 2020.
Mortgage industry stakeholders said Freddie Mac’s pilot program to alleviate repurchase requests is a better option than Fannie Mae’s new notice of potential defect.
Lenders will now be able to use a single verification report to validate income, employment, assets, positive rent payment and cash flow history. However, the report must have at least 12 months of data.
The Federal Reserve published a hypothetical economic collapse for banks to use in their annual stress test this year. The same scenario might be used by FHFA for Fannie Mae and Freddie Mac.
A Fannie survey highlights how sentiments have changed among condo lenders after Fannie Mae and Freddie Mac imposed new restrictions in the wake of the Surfside tower collapse in 2021.
Deliveries to the GSEs in January dropped to their lowest level since February 2023, with both purchase and refi volume down. (Includes two data tables.)
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