GSE MBS issuance involving purchase mortgages (and refis) crested in June. Issuance volume declined by 10.4% on a monthly basis in July, though activity at the lender level was far from uniform. (Includes two data charts.)
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Rising home prices allowed Fannie and Freddie to drive up second-quarter profits by reducing their loan loss allowances. (Includes data chart.)
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Industry groups, even those that support FHFA’s plan to revamp how credit scores work in the mortgage space, urge the agency to take more time with implementation.
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The controversial proposed capital rule for large banks sets a 75% loss given default rate for GSE debt issued but not guaranteed by the GSEs. For the debt guaranteed by the GSEs, the LGD rate will be 25%.
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A new capability in Loan Product Advisor’s asset and income modeler allows lenders to directly access a borrower’s Schedule C income via IRS tax transcripts.
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FHFA joined the rest of the Biden administration in a government-wide effort to keep renters in their homes, but some stakeholders say one-size-fits-all solutions won’t work.
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Errors in the model Fannie uses to calculate income during a stress test led the enterprise to underestimate profits in both its 2021 and 2022 stress tests.
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