For some sellers, the curbs don’t represent much of a bump in the road. For Quicken Loans, the top GSE seller over the 12-month period, investor/second-home loans were roughly 5.5% of its sales to both Fannie and Freddie.
Fitch said the deal comes with “an irrevocable and unconditional guaranty,” courtesy of the Development Finance Corp. That means the securities, and any obligations associated with them, enjoy the full faith and credit of the U.S. government.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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