The rescinded fee would have added $1,250 in cost to the purchase of a $300,000 home.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.
Timing differences in their provisions for loan losses allowed Fannie’s first-quarter profits to more than double while Freddie’s climbed just 13.2% compared with the fourth quarter. (Includes data chart.)
The ranking member of the Senate Banking Committee has demanded that the FHFA director meet with committee staff to prove the GSEs’ new pricing grids don’t amount to more cross-subsidy.
Fannie and Freddie modified their policies to support lower-income borrowers by allowing greater use of downpayment assistance and equity-sharing programs.
FHFA has asserted that most of the changes to the GSEs’ loan-level pricing adjustment grids are risk based or meant to meet the GSEs’ capital requirements.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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