Out of the $3.158 trillion unpaid principal balance in Fannie’s population of outstanding MBS, $201.3 billion would be eligible for a refi under the new program.
Even though the GSEs actively support small lenders on the single-family side of the house, critics say their multifamily businesses continue to favor larger financial institutions.
Fannie and Freddie once again turned in stellar results. In the first quarter, profits increased along with their net worth positions. (Includes data chart.)
The program will be rolled out to GSE borrowers with incomes at or below 80% of a geographic area’s median income. One stipulation: no more than one missed payment in the past 12 months.
FHFA says appraisal waivers may subside after the agency reviews comments in its outstanding RFI. However, the cash window caps may be here for a while.
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