Fannie Mae and Freddie Mac plan to resume bulk acquisitions of seasoned mortgages from lenders. However, the purchases will be focused on smaller lenders.
The first Black woman to serve as head of the Federal Housing Finance Agency squeaked through the confirmation with just one Republican vote, Sen. Mike Rounds of South Dakota.
Ginnie and FHFA are working together to set capital and liquidity requirements for nonbanks. Separately, Ginnie is working to allow for changes at the loan level and FHFA is considering reforms involving the Federal Home Loan Banks.
Fannie Mae’s first-quarter earnings declined due to higher loan loss provisions, while Freddie Mac posted higher profits on the back of credit-related income. (Includes data chart.)
Fannie’s CEO is set to retire. The GSE chair is departing as well; Waterfall Asset Management launches non-agency MBS with Ginnie EBOs; hurricanes impacting performance of solar ABS.
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