Strong increases in loan sales by Wells Fargo, JPMorgan Chase, Truist and Citizens Bank helped boost the banking industry's share of new GSE business in the second quarter. (Includes two data charts.)
Lenders delivered $149 billion of refinance loans into Fannie and Freddie MBS issued in May, down 29% from April. The GSEs also saw a 4% drop in deliveries of purchase-money mortgages. (Includes two data charts.)
A recent report from the Congressional Research Service suggests that it may be difficult to simultaneously raise the capital requirements for the GSEs and shrink their footprint, and still expect them to attract equity investors.
Veteran analyst Dick Bove says tapering by the Federal Reserve and meddling by the FHFA will eventually force the Biden administration to address housing-finance reform.
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