The only lender type that saw an increase in GSE-related production in the first quarter was housing finance agencies. Meanwhile, deliveries to the GSEs ticked up in April. (Includes two data charts.)
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The rescinded fee would have added $1,250 in cost to the purchase of a $300,000 home. Or, borrowers could have elected to pay an extra $24.75 per month on their mortgage.
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Timing differences in their provisions for loan losses allowed Fannie’s first-quarter profits to more than double while Freddie’s climbed just 13.2% compared with the fourth quarter. (Includes data chart.)
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The ranking member of the Senate Banking Committee has demanded that the FHFA director meet with committee staff to prove the GSEs’ new pricing grids don’t amount to more cross-subsidy.
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Plaintiffs claim former FHFA Director Mel Watt “thwarted” former President Trump’s plan to end the net worth sweep. The government says, “What plan?”
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Fannie and Freddie modified their policies to support lower-income borrowers by allowing greater use of downpayment assistance and equity-sharing programs.
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