Even as FHFA replaces its current ARM index with one created by Freddie Mac, Freddie and Fannie endorse a new SOFR index touted by the Fed as a replacement for LIBOR.
The indictment of apartment mogul Robert Morgan and several of his associates may have accelerated the prepayment speeds of dozens of Fannie’s and Freddie’s multifamily MBS.
The GSE is trying to gather all the stakeholders of the affordable housing “ecosystem,” including lenders, counselors, local housing agencies, and real estate professionals, under a single umbrella.
Freddie announces a $1.3 billion Seasoned Loans Structured Transaction; Fannie prices a $1 billion REMIC deal; Freddie launches a new product to address aging housing supply; CEO Layton’s last week at Freddie.
The GSEs continue to offload delinquent loans in their mortgage portfolios, bringing the tally of loans sold since 2014 to 117,466 with an unpaid balance of more than $22 billion. Page 9.
Seller repurchases of defective loans dropped to the second-lowest total on record, but Freddie repurchases remained significantly higher than Fannie's. The volume of unresolved claims was up from the fourth quarter.