HeritageOne will provide financing for single-family homes located on federally designated tribal lands. Only primary residences are eligible.

The GSEs say the spike in repurchase requests simply reflects the historic volume in 2020 and 2021. Lenders argue there should be something short of a repurchase request for performing loans with minor defects.

FHFA is seeking input on the return on capital standards that apply to the GSEs and components of g-fees, among other issues.

FHFA Director Sandra Thompson noted that the GSEs have yet to seek approval for new products under a new FHFA initiative.

Former FHFA Acting Director Ed DeMarco and the American Bankers Association have endorsed releasing the GSEs from conservatorship. Industry observers aren’t optimistic about any moves in the near term.

FHFA’s proposed revisions to the enterprise regulatory capital framework prompted feedback from Fannie Mae and Freddie Mac. The GSEs support various aspects of the proposal while seeking some changes.

The new tool is expected to help first-time homebuyers and borrowers from underserved communities who might not have qualified under old-school underwriting.

The announcement comes on the heels of a potential downgrade of the U.S. government amid a debate on the debt ceiling.

Spreads on the latest CRT from Fannie were wider than on the deal the GSE issued in April 2022.

The rescinded fee would have added $1,250 in cost to the purchase of a $300,000 home. Or, borrowers could have elected to pay an extra $24.75 per month on their mortgage.