Over the four-month period from May to August, Fannie and Freddie purchased $46.18 billion of IPL and SHL loans, down 47.9% from the first four months of the year.
In the purchase market, the share of loans with credit scores ranging from 620 to 699 rose from 10.75% in the second quarter to 12.00% in the third quarter.
One caveat: Only the most well-heeled companies came to market, leaving originators with weaker prospects to tap their bank lines or enter into new or amended master repurchase agreements...
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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