Jason Griest has been with Freddie for the past eight years. Prior to that, he held capital markets or securitizations positions at Fannie Mae, Bank of America and JP Morgan.
A so-called stressed default rate on millions of residential loans originated between 1990 and 2019 suggests the risks that precipitated the global financial crisis were around long before that, and are growing in the current market.
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.