The avalanche of increased GSE single-family business didn't land equally on all categories of sellers. Nonbanks saw a huge gain in market share, while correspondent platforms and coissuance declined. (Includes two data charts.)
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The council said any distress that affects the secondary mortgage market activities of the GSEs “could pose a risk to financial stability if those risks are not properly mitigated.”
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When questioned about the steep fee the GSEs charge to buy early forbear-ance loans, the FHFA director turned the tables on the lawmakers: Why didn’t Congress pay for it in the CARES Act?
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Wells Fargo Securities predicts the delinquency rate for high quality Fannie collateral — mortgages with loan-to-value ratios between 60% and 97% — will reach 4.3% in October.
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FHFA officers told the inspector general that they believed performing some of the required security assessments “was an inefficient use of agency resources.”
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Housing-finance watchers are gearing up for December when the Supreme Court will hear oral arguments challenging the government’s net worth sweep of Fannie Mae and Freddie Mac profits.
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Chris Boyle will be in charge of all external-facing functions at the digital mortgage lending platform, including strategy, marketing and business development efforts.
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