Freddie commemorated its 50th year in business with a landmark $107.6 billion in new single-family business, its biggest output ever. The GSEs could set a new annual record by the time 2020 is over. (Includes two data charts.)
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MBA President Bob Broeksmit argues that the new LLPA “flies in the face of the administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners.”
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Extending the GSE patch until six months after the new QM rule goes into effect would give market participants adequate time to prepare, and minimize the number of loans impacted by the change.
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The bright spot in the FHLBanks’ earnings report was net interest income, which climbed to $1.25 billion 2Q20, a 36.4% sequential increase, despite the fact that advances declined by almost 31%. (Includes data chart.)
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Fannie Mae and Freddie Mac have dramatically increased the amount of debt they’ve issued this year due to the economic impact of the coronavirus. But the cost of their debt tells a different story.
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Tenants must be informed that, even after the moratorium on evictions ends, the landlord must still give them at least a 30-day notice to vacate.
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