Under the new guidelines, at least 50% of the multifamily loans that Fannie and Freddie purchase must be for affordable housing. That’s up from 37.5% under the prior caps.
Fannie and Freddie combined to issue $266 billion of single-family MBS in October, the third monthly production record set this year. Many top sellers shifted a little more of their GSE business to Freddie. (Includes two data charts.)
Former MBA president David Stevens believes the adverse market fee has nothing to do with COVID-induced risk. “It’s about building up the capital of Fannie and Freddie,” he said.
The senator flagged the risk of improper foreclosures if servicers begin the foreclosure process before a borrower has an opportunity to either extend forbearance or be evaluated for a modification.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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