Lenders with heavy concentrations of refi loans, like Quicken and Freedom Mortgage, recorded big declines in agency business during the second quarter of 2021. (Includes two data charts.)
Critics argue that community banks and small credit unions are vulnerable to rules designed for large lenders. Also, if Fannie and Freddie exit conservatorship, many of the guardrails protecting small lenders could vanish.
The first quarter of 2021 still ranks second in total agency MBS production despite a sharp decline in purchase-mortgage volume. Several top sellers boosted agency volume in early 2021. (Includes two data charts.)
The proposed rule would require the GSEs to write living wills that include no government support. However, their PSPA with Treasury includes letters of credit with an outstanding balance of $254 billion.
Lenders sold a record $114.4 billion of conforming-jumbo loans to Fannie, Freddie and Ginnie during the fourth quarter, a 34% increase from the prior period. (Includes three data charts.)
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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