Lenders sold $55.8 billion in loans to the government-sponsored enterprises in August. The GSEs boosted their share in new MBS issuance to 61.2% in the second quarter, but three in 10 conventional-conforming mortgages did not end up in Fannie/Freddie MBS. (Includes two data charts.)
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FHFA is showing that it’s willing to listen to industry feedback as the regulator works to transition the GSEs to new credit scoring processes. This week the agency delayed one aspect of the transition and noted plans to conduct listening sessions.
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Freddie is searching for a new CEO as the GSEs mark 15 years in conservatorship. The CEOs of the GSEs also remain subject to limitations on compensation.
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High failure rates for lenders trying to implement new edits to certain fee disclosure requirements in Phase 3B of the Uniform Closing Database persuaded Fannie and Freddie to postpone those changes.
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Bids on a $2.65 billion pool of reperforming loans are due Oct. 5. Meanwhile, PIMCO was the winning bidder on Fannie’s first RPL sale of the year.
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Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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