Nine of the 11 Federal Home Loan Banks saw their profits jump in the first quarter. Only the FHLBanks of Dallas and Cincinnati experienced declining net income. (Includes three data charts.)
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The White House action plan for increasing the supply of affordable housing largely piggybacks on the duty-to-serve plans of Fannie Mae and Freddie Mac.
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According to the former FHFA chief, given the state of the mortgage and equity markets, Fannie Mae won’t survive another round of home price depreciation.
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FHFA and Treasury haven’t discussed how to make the 2021 changes to the PSPAs permanent or whether to ease the capital requirements for the GSEs.
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Trade groups are resigned to whatever model FHFA chooses, but they need data on how it performs compared to FICO to set up their own systems and procedures.
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Donna Corley, Freddie’s head of single-family, said borrowers will soon be able to use the Choice Renovation product to finance the construction of accessory dwelling units and count the rent toward income.
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The regulator of Fannie Mae and Freddie Mac is now a member of an organization that says climate change poses a serious risk to the financial system.
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