While seller repurchases of Fannie loans fell sharply in the second quarter, buybacks of Freddie loans were up. Rocket Mortgage and United Wholesale Mortgage ranked at the top of GSE buybacks for the first half of the year. (Includes three data tables.)

After a sharp drop in the fourth quarter, seller repurchases of Freddie loans rose substantially in early 2024. Fannie, however, reported a decline in seller buybacks. (Includes three data tables.)

As the historic mortgage boom fades into the past, buyback claims from the GSEs have declined. The biggest downturn has been at Freddie. (Includes three data tables.)

Mortgage industry stakeholders said Freddie Mac’s pilot program to alleviate repurchase requests is a better option than Fannie Mae’s new notice of potential defect.

Lenders will now be able to use a single verification report to validate income, employment, assets, positive rent payment and cash flow history. However, the report must have at least 12 months of data.

Guidance from on-high helped push lender buybacks of GSE loans sharply lower in the third quarter, particularly at Freddie. (Includes three data tables.)

The enterprise’s plan closely resembles an alternative to current buyback policy that was proposed by CHLA in May.

Fannie Mae and Freddie Mac released details on FHFA’s new policy of extending natural disaster-related reps-and-warranty relief to mortgagees impacted by the pandemic.

Fannie says material defects have been rising for the past few years. In 2Q23, seller buybacks topped $1 billion for the sixth straight quarter. (Includes three data charts.)

The 2022 book of GSE single-family business has a higher defect rate than earlier cohorts, and sellers are repurchasing loans with interest rates lower than current levels. (Includes three data charts.)