Defaults on home equity investment contracts can occur if the borrower’s mortgage is foreclosed on or if the borrower fails to maintain payments for taxes and insurance on the home.
Fannie Mae and Freddie Mac issued a combined $2.34 billion in CRT securities, excluding reinsurance deals, in the second quarter. That was down 18.0% from the first quarter.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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