The new 50-basis-point upfront fee is intended to offset the cost of capital each enterprise is required to hold for guaranteeing the collateral of its competitor.
Volume declined at all of the top 10 GSE sellers in April, both sequentially and year-to-date. Purchase mortgages outnumbered refinancings for the first time since September 2019. (Includes two data charts.)
The deal will help support the development of 1,500 units of senior housing in Arizona, more than half of which will be affordable to renters with incomes lower than 50% of AMI.