Overall deliveries to the GSEs fell 11.0% in October and were down 51.2% year-to-date compared to 2022. That’s largely due to the decline in refis, which are off 85% compared to the first 10 months of last year. (Includes two data tables.)
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Fannie Mae and Freddie Mac revenues ticked up in the third quarter, but an increase in net expenses cut into profits. Those expenses included damages and interest awarded to shareholders in Fairholme v. FHFA. (Includes data table.)
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The regulator’s plan to refocus the FHLBanks on housing finance may take some time to get underway. Changing the eligibility requirements for membership, though, doesn’t seem to be likely.
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Although Fannie Mae and Freddie Mac met their duty-to-serve obligations, that doesn't mean they achieved all their goals. Both enterprises received low scores in some categories.
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Servicers should see several enhancements to Freddie’s Resolve platform and its APIs, including a dashboard they can use to manage their pipeline and track charge-offs.
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Freddie CAO describes the lexicon of an objective appraisal. He discourages the use of subjective language terminology such as “desirable” or “family friendly.”
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