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.
Fannie and Freddie hope to repeat their success with green multifamily MBS on the single-family side of the business. They’re also expanding their ESG offerings into social and sustainable bonds.
Release of the transcripts from FHFA’s listening session on the GSEs’ housing goals was delayed for weeks, but the comments from affordable housing advocates remain fresh.
The January amendments to the PSPA require the GSEs to follow the new QM rule, even though CFPB may not enforce the rule until October 2022. That means Fannie and Freddie will no longer purchase GSE patch loans after July 1.
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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