The FHLBanks, like Fannie Mae and Freddie Mac, have a public/private structure that can incentivize private profits at public cost. Don Layton, former Freddie CEO, said the banks are ripe for reform.
Fannie Mae and Freddie Mac accounted for 44.1% of all mortgage originations in 2023, compared with 48.6% in 2022 and more than 58% in both 2021 and 2020.
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.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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