The rescinded fee would have added $1,250 in cost to the purchase of a $300,000 home.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.
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.
The chair of the Senate Banking Committee wants FHFA to examine the implications of the Federal Home Loan Banks becoming the lender of last resort for struggling financial institutions.
Fannie and Freddie in a joint comment letter expressed concerns that the SEC’s proposed rule on conflict of interest could prevent the GSEs from issuing credit-risk transfer notes in a post-conservatorship world.
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.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS