Lower rates have created a land rush by apartment owners to refinance their multifamily loans, potentially straining the capacity of Fannie and Freddie. However...
There’s been speculation that the Treasury Department this year would suspend the dividend payment to let the two companies build capital, a first step in an administration-backed recapitalization and release plan.
Wells Fargo, for instance, reported $675.0 million in residential mortgage banking income for the second quarter, up just 2.1% from the previous period.
Approximately $600 million of refinance loans with a VA guarantee were left stranded on lenders’ balance sheets due to a conflict in Ginnie seasoning requirements that were ushered in with passage of the Dodd-Frank reform act...