An FHFA spokesperson said that, while Director Mark Calabria hasn’t issued a specific directive on providing credit, he has made it very clear that Fannie and Freddie must prioritize their own safety and soundness.
Read More
Analysts estimate that GSE forbearance programs will ultimately cost servicers between $80 billion and $150 billion in advances and escrow payments, bolstering the theory that only the Federal Reserve has the wherewithal to provide interim financing.
Read More
In a survey of its members last week, the Mortgage Bankers Association found that the percentage of loans in forbearance rose from just 0.25% on March 2 to 2.66% by April 1, nearly a tenfold increase.
Read More
Nonbank market share declined slightly in the first quarter largely because depository institutions were selling older loans to Fannie and Freddie. Refi business ramped up in March. (Includes two data charts.)
Read More
The Real Estate Roundtable urged regulators to suspend mark-to-market rules as the industry fights off the economic impact of the coronavirus.
Read More