Fannie and Freddie issued a staggering $880 billion of single-family MBS during the first half of 2020, up 78.5% from the first three months of the year. Volume peaked in June as refi activity continued to surge.
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Time is of the essence if FHFA Director Mark Calabria wants Fannie and Freddie irrevocably out of conservatorship before a possible change in administrations in November.
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The MBA argues that FHLB advances would offer REITs a cheap alternative to repo financing. One way to offset the added risk posed by REITs would be to increase the haircuts on their collateral requirements.
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The steep fees to sell forbearance loans to the GSEs have led to tighter underwriting standards, which disproportionately impact borrowers of color, House Financial Services Committee Chair Maxine Waters said.
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According to charges filed by an FHFA special agent, the defendant submitted fraudulent PPP loan applications to two Federal Home Loan Banks.
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