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Inside The GSEs

April 24, 2020

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Nonbank Stake Expands in 1Q20 GSE Servicing Market

Nonbank servicers increased their holdings of Fannie/Freddie MSR by $54 billion during the first quarter of 2020, with a big chunk of that coming as New Residential boarded Fannie rights it acquired from Ditech last year. Read More

Mnuchin Tables Fed Funding for Servicers

Treasury Secretary Steven Mnuchin said in an interview late Thursday that the Trump administration has no plans to fund a Federal Reserve facility to finance servicer advances. Read More

GSEs to Buy Forbearance Loans

Fannie Mae and Freddie Mac will purchase single-family mortgages that are in forbearance. But there’s a catch: steep LLPAs. Read More

CRT Trading Bogs Down; Investors Face Possible Losses

It’s becoming increasingly clear that unless Fannie or Freddie comes to the rescue of investors, certain pre-2015 CRT deals will sustain losses as millions of borrowers accept mortgage forbearance plans. Read More

GSE Economists Revise Forecasts on Pandemic Woes

Fannie economists predict a shocking 25.3% drop in second-quarter GDP, including a 36.2% free-fall in residential fixed investment. Read More

Confusion Persists Over Post-Forbearance Options

The only rule explicitly stated by the GSEs is “forbearance does not mean payments are forgiven.” Meanwhile, the FHFA and CFPB have joined hands to protect consumers from fraudulent forbearance activities. Read More

FHLBank Members Can Get Advances Against PPP Loans

The Federal Home Loan Banks will accept Paycheck Protection Program loans as collateral. The loans carry a 100% SBA guarantee. Read More

URLA Implementation Delayed

In an effort to support the industry during the COVID-19 pandemic, mandated use of the redesigned Uniform Residential Loan Application is now scheduled for March 1, 2021. Read More

Fannie Identifies Multifamily MBS Impacted by COVID-19

The list, which currently includes only four pools, will be updated weekly. It can be found on the DUS Disclose page of Fannie’s website. Read More

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