Fannie’s Desktop Underwriter remains significantly more popular than Freddie’s Loan Product Advisor, accounting for 72.6% of mortgages originated after being approved by a GSE automated underwriting service. (Includes data table.)
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FHFA Director Sandra Thompson said the first test of its recently instituted new products rule went well, despite the relatively short timelines. But critics of Freddie’s new pilot also asked the agency to find ways to stretch out the opportunity to comment.
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FHFA issued an RFI on how to simplify and improve the efficiency of the competitive application process for the FHLBanks’ Affordable Housing Programs.
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Researchers say strategic securitization by lenders exposes the GSEs to higher insurer counterparty risk, especially in regions with frequent climate-related disasters. The proposed cure: LLPAs and capital rules that compensate the GSEs for this risk.
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Brian Tomney told the House Financial Services Committee that FHFA has largely embraced OIG recommendations and has evolved from its start-up stage.
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Beginning July 1, the capital markets team at Freddie Mac will start offering multifamily giant PCs, products that will allow investors to pool larger securities and better manage their portfolios.
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The new Federal Advisory Committee on Affordable, Equitable and Sustainable Housing includes a who’s who of housing finance experts, equitable housing advocates and industry representatives.
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