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.
Industry stakeholders said FHFA should find tremendous value in the CRT program as it reduces systemic risk by distributing risk across many investors and transactions.
When questioned about the steep fee the GSEs charge to buy early forbear-ance loans, the FHFA director turned the tables on the lawmakers: Why didn’t Congress pay for it in the CARES Act?
Nonprofit groups said the new rule will lead to higher guarantee fees, potentially pricing many low-income families and families of color out of the GSE channel.
Jeffery Hayward will assume the newly created position of chief administrative officer at Fannie. He will oversee affordable housing, as well as environmental, social and governance programs.
After the comment period on the re-proposed GSE capital rule closes, the FHFA will hold “listening sessions” allowing stakeholders to elaborate on their comments.
MBA President Bob Broeksmit argues that the new LLPA “flies in the face of the administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners.”
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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