GSE watchers believe that, to appropriately compensate the taxpayer for their government guarantee, Fannie and Freddie would have to pay a commitment fee as high as $46 billion a year.
Three former CEOs of the GSEs this week debated the impact of federal conservatorship, what steps must be taken to safely end the oversight and what the GSEs should look like afterwards.
If the GSEs are released from conservatorship, some participants in the agency MBS market insist the to-be-announced market, uniform MBS and Fannie/Freddie CRT activity should remain untouched.
Manufactured housing loans remain a tiny fraction of GSE acquisitions, but that share has nearly doubled since 2019 and plays an important role in spec pooling.
Federal Reserve Vice Chair Michael Barr plans to recommend retaining capital requirements for unrealized losses on MBS held in bank portfolios. This provision was in response to the 2023 banking crisis.
Participants in the MBS and ABS market have widespread concerns about a proposal to adjust capital requirements for large banks. They argue that the proposed capital requirements are unnecessarily high.
It will be the 11th issuance of its type by loanDepot.
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