As far as pricing goes, if g-fees are raised Fannie and Freddie could earn more money – cash that ultimately would wind up at the Treasury Department, which sweeps most of their earnings each quarter.
A new trade group is showing true love for Fannie Mae and Freddie Mac. Also, the Consumer Financial Protection Bureau is giving lenders some breathing room on the Qualified Mortgage/Ability-to-Repay rule.
“The examiner-in-charge apparently thought that the owner was lying, and the CFPB now wants to question him under oath,” principal Joe Garrett writes in a note to his clients.
At one shop based in the Midwest there’s unconfirmed talk of loan officers who haven’t been paid for months, unpaid leases and top executives who were on vacation as volumes collapsed.