Freddie Mac

Browse articles from all of our Newsletters related to Freddie Mac.

December 22, 2014 - IMFnews

Short Takes: Thanks to Ocwen, Most Mortgage Stocks Suffer / ASPS Hammered Too / Skyline Reveals Investors / DBRS Sold / FHFA Worries About Lien Priorities

Skyline said it raised $18 million in equity and debt from Ellington along with Upfront Ventures and Dallas Capital Management.

December 19, 2014 - Inside MBS & ABS

MBS Prices Hit Highs for the Year as Gas Plummets; Time to Get Out of the Market?

Defying the expectations of most industry analysts, investors have bid up the price of agency MBS over the past two weeks, pushing values into nosebleed territory. According to figures compiled by MBS Quoteline, the price of the Fannie Mae 3.50 percent bond recently reached 104.4. “This week and last week we saw new highs,” said Joe Farr, director of sales and marketing for the company. And that has made...

December 19, 2014 - Inside MBS & ABS

In a Stalled MBS Market, Most of the Heavy Hitters Increased Their Holdings in 3Q14

The outstanding supply of agency single-family MBS continued to grow at a subdued pace during the third quarter of 2014, and the biggest investor classes did most of the heavy lifting funding the market, according to a new Inside MBS & ABS analysis. On the supply side, there were $5.632 trillion of single-family MBS guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae outstanding at the end of September. That was up just 0.4 percent from the previous quarter but had enough growth rings to show a 1.2 percent gain from a year ago. As has been the case for the past few years, the Ginnie MBS market grew...[Includes two data chart]

December 19, 2014 - IMFnews

MBA, Democrats in Senate Urge HUD to Consider Decreasing Fees on FHA Mortgages

MBA cites competition from GSEs' new low downpayment programs, Senators point to improvements in the FHA's Mutual Mortgage Insurance Fund.

December 19, 2014 - IMFnews

In a Stalled MBS Market, Heavy Hitters Increase Their Holdings

On the supply side, there were $5.63 trillion of single-family MBS guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae outstanding at the end of September.

December 18, 2014 - Inside Mortgage Finance

CBO Projects Lenders Will Shift Some of Their Business Away from the GSEs in Coming Years

Lenders are likely to shift some of their business away from the government-sponsored enterprises and into the non-agency market in the coming years, regardless of GSE reform efforts, according to a report released this week by the Congressional Budget Office. “With house prices expected to trend upward, the balance sheets of lenders and investors should improve, as should borrowers’ financial positions,” the nonpartisan provider of analysis for Congress said. “Consequently, CBO projects that private companies will become more willing to make new loans and demand lower fees to compensate for the credit risks they take, which will reduce Fannie Mae and Freddie Mac’s pricing advantage over their private competitors.” If the private sector bears more mortgage credit risk, the CBO said...

December 17, 2014 - IMFnews

CBO: Private Capital Can Replace the GSEs but Not Much Savings for Uncle Sam

Advocates for GSE reform looking for savings in the federal budget will be disappointed...

December 17, 2014 - IMFnews

Quicken Completed Mortgage Broker LPMI ‘Sale’ in 60 Hours

A handful of other large national wholesalers offer LPMI, including United Wholesale Mortgage.

December 16, 2014 - IMFnews

A 15 Percent Decline in GSE MBS Issuance for November

More than half of Fannie’s MBS flow in November came from refinance loans, the first time since March that purchase mortgages accounted for less than half of its business.

December 15, 2014 - IMFnews

Short Takes: CMLA Wants GSEs to Retain Net Earnings / Cantor Expands Whole Loan Trading Desk / Carrington Hires Orman / Some Nice Words for Ocwen / FCI Shows Strong Growth

Moreover, CMLA wants lower guaranty fees for seller/servicers...

December 15, 2014 - IMFnews

Public Company Selling $800 Million of Fannie/Freddie MSRs

Roughly 86 percent of the mortgages were correspondent originations.

December 15, 2014 - IMFnews

GSE Seller/Servicer Buybacks Hit Post-Crash Low; Banks Over-Reserving?

As of September 30, banks and thrifts held $15.50 billion in repurchase reserves, most of it tied to Fannie/Freddie loans.

December 12, 2014 - Inside The GSEs

GSE Roundup

SEL 2014-15. Dec. 8. Fannie announced expanded loan-to-value ratios for purchase and limited cash-out refinances. The GSE also updated its loan-level price adjustment matrix. The program requires use of Fannie’s Desktop Underwriter version 9.2, which will be implemented over the Dec. 13 weekend. It is available for both MyCommunityMortgage and standard business. For MCM, Fannie now allows borrower reserves to come from gifts. Bulletin 2014-22. Dec. 8. Freddie introduced the Home Possible Advantage product, which allows loan-to-value ratios up to 97 percent under the Home Possible program. The loans can be manually underwritten or processed through Freddie’s Loan Prospector. At least one borrower must get homeownership counseling. The program effective date is March 23, 2015. DU Spring 2015 Update. Dec. 5. ...

December 12, 2014 - Inside The GSEs

FHFA Readies Liquidity Standards For Nonbank Seller Servicers

Fannie Mae and Freddie Mac are watching with some concern the growing role of nonbank servicers, and their regulator is drafting new standards for these counterparties. “The shift from depository to non-depository servicers poses additional risks to us,” Fannie said in its third-quarter 10-Q filing. “Non-depository servicers may have a greater reliance on third-party sources of liquidity and may, in the event of significant increases in delinquent loan volumes, have less financial capacity to advance funds on our behalf or satisfy repurchase requests or compensatory fee obligations.” The fast growth of many of these nonbank servicers poses “increased operational risk, which could negatively impact their ability to effectively manage their servicing portfolios,” Fannie said. Nonbank servicers – especially “specialty” companies – are ...

December 12, 2014 - Inside The GSEs

Industry Survey: Fix the GSEs, But Don’t Dissolve Them

Mortgage industry participants generally think GSE reform is necessary but they don’t support a complete wind-down of Fannie Mae and Freddie Mac, according to a new survey conducted by the Collingwood Group. Some 64.5 percent of 97 respondents said GSE reform is necessary. “Those who want reform say that the GSEs need not serve as a backup guarantor of home mortgages and believe that the government shouldn’t be guaranteeing more than 90 percent of the market,” Collingwood said. “The majority of respondents felt strongly that Fannie Mae and Freddie Mac’s current state is untenable,” Collingwood said. “Interestingly, none of the survey respondents called for a wind-down or elimination of the GSEs.” Those who said GSE reform is not necessary cited ...

December 12, 2014 - Inside The GSEs

Sen. Warren Critical of FHFA, Fannie/Freddie Policies

A hearing by a subcommittee of the Senate Committee on Banking, Housing and Urban Affairs turned into a showcase for Sen. Elizabeth Warren, D-MA, to criticize Fannie Mae, Freddie Mac and the Federal Housing Finance Agency. “To be blunt, Fannie and Freddie have put homeownership out of the reach of millions of creditworthy families,” Warren said at a hearing by the Banking Subcommittee on Housing, Transportation and Community Development. She focused on average credit scores for mortgages delivered to the GSEs. “In 2012, the average credit score associated with a mortgage purchased by Fannie or Freddie was over 760,” Warren said. “That is more than 50 points higher than the average credit score associated with the mortgages they purchased back ...

December 12, 2014 - Inside The GSEs

FHFA Pushes Back on OIG Counterparty Recommendation

The Federal Housing Finance Agency issued an advisory bulletin last week detailing the GSEs’ responsibilities for managing counterparty risks. FHFA Advisory Bulletin 2014-07 states that each enterprise should “assess financial, operational, legal, compliance, and reputation risks associated with its single-family seller/servicer counterparties and take appropriate action to mitigate those risks or reduce the enterprise’s exposure. Toward this end, each enterprise should implement a board-approved risk management framework that specifically includes risk-based oversight of single-family seller/servicers.” Anne Canfield, executive director of the Consumer Mortgage Coalition, said the bulletin could relate to an audit report released in September by the FHFA’s Office of Inspector General. The OIG report directed Fannie Mae and Freddie Mac to assess the cost/benefit of a risk-based approach ...

December 12, 2014 - Inside The GSEs

GSEs Won’t Say How Much Servicing Is Being Transferred

Transfer of mortgage servicing rights, especially from banks to nonbanks, has been widely discussed over the past few years, but Fannie Mae and Freddie Mac aren’t saying how much is changing hands. One investment banking official who sells MSR for a living said he believes that through the first nine months of 2014, about $350 billion in agency receivables changed hands, but has no solid evidence to back it up. In fact, several servicing advisors contacted by Inside The GSEs declined to take a stab at making an estimate. According to Inside Mortgage Trends, an affiliated newsletter, commercial banks and thrifts have reduced the unpaid principal balance of home loans they service for other investors by $357.6 billion in the ...

December 12, 2014 - Inside The GSEs

FHFA Orders GSEs to Start Contributing to Trust Funds

Fannie Mae and Freddie Mac will send about $290 million to two federal trust funds next year following a controversial decision by the Federal Housing Finance Agency to reverse a 2008 decision by its former top official. It’s no surprise that FHFA Director Mel Watt, a former Democratic member of the House, decided to end the “temporary” ban on GSE contributions to the Housing Trust Fund and Capital Magnet Fund. The reaction to this week’s announcement was predictable as well: a leading House Republican railed against it, while community advocates praised it. The contribution formula calls for Fannie and Freddie to send amounts equal to 4.2 basis points of the principal balance of their new business to the funds. Based ...

December 12, 2014 - Inside The GSEs

Analysts See Better Deal In GSE 97s Than in FHA

The 3 percent downpayment mortgages announced this week by Fannie Mae and Freddie Mac should be a better deal than similar FHA financing for stronger-credit borrowers, according to analysts. Final details of the conventional 97 loan-to-value ratio products were released this week to mixed but mostly favorable reviews. Although aimed at first-time homebuyers in Fannie’s MyCommunityMortgage and Freddie’s Home Possible programs, the products are also available for refinances of existing GSE loans. Only 30-year, fixed-rate loans are eligible and the home must be the borrower’s primary residence. In Fannie’s case, borrowers who go through MCM would pay lower upfront loan-level price adjustments. Freddie requires that the loans go through Home Possible. Analysts with FBR Capital Markets said the government-sponsored enterprises’ ...

December 12, 2014 - Inside The GSEs

Slowdown in Purchase Market Cooled GSE MBS in November

Seasonal trends hit the GSE single-family mortgage-backed securities business in November, with new issuance of single-family MBS tumbling 15.1 percent from October. A new Inside the GSEs analysis of loan-level MBS disclosures reveals that a sharp 22.0 percent drop in securitization of purchase-money mortgages was the major factor in the November decline. Refinance loans delivered to Fannie Mae and Freddie Mac MBS pools were off a milder 6.8 percent from the previous month. In fact, more than half of Fannie’s MBS flow in November came from refinance loans, the first time since March that purchase mortgages accounted for less than half of the GSE’s business. One sign of the increased refinance share of GSE business ... [with two exclusive charts]

December 12, 2014 - IMFnews

What We’re Hearing: Does Impac Have Money for a Big M&A Deal? / Ocwen Catches the Eye of Treasury / A 480 FICO Score Lender? / How Fannie and Freddie Really Feel About Nonbanks

What do Fannie and Freddie really think of nonbanks? Read their SEC filings.

December 12, 2014 - Inside MBS & ABS

2015 Looks to Be Another Slog for Non-Agency MBS With More Volatility, Big GSE Footprint

Supporters of the non-agency residential MBS market will have plenty of heavy lifting to do next year, as they face an anticipated increase in volatility for some deals and a continued dominating presence in the broader market by Fannie Mae and Freddie Mac, among a host of challenges. But at least there’s some degree of regulatory certainty for the market now, and it’s likely that opportunities will emerge for savvy investors to snap up some extra yield, according to a consensus of Wall Street analysts who cover the space. Analysts at Fitch Ratings expect to see the continuation of a slow recovery for the non-agency MBS space in 2015. “The recovery in primary U.S. RMBS issuance remains anemic as the industry continues to face challenges including continued government-sponsored enterprise dominance, more attractive financing alternatives such as whole-loan sales, new mortgage regulation, and a weak AAA investor base,” Fitch analysts said in a 2015 outlook piece. Also, despite the industry’s renewed efforts led by the Structured Finance Industry Group to resolve the absence of necessary structural reforms after the financial crisis, progress is...

December 12, 2014 - Inside MBS & ABS

Mortgage Securitization Rates Remain Below Par For Recent Years; More Options for Conforming

Mortgage securitization rates continued to trend lower through the first nine months of 2014 as Fannie Mae and Freddie Mac captured a smaller share of the conventional conforming market. A new Inside MBS & ABS analysis reveals that 70.4 percent of home loans originated during the first nine months of the year were packaged into MBS. For all of 2013, the securitization rate was 78.5 percent, and it reached as high as 84.4 percent in 2009, the first year following the financial meltdown. A key factor is...[Includes one data chart]

December 12, 2014 - Inside MBS & ABS

Mortgage REITs Report Decline in MBS Holdings During 3Q14; Analysts Not Ready to Give Up Yet

Naysayers have been predicting the demise of publicly traded mortgage real estate investment trusts for two years now and have been consistently disappointed. It’s hard to say whether things will be different this time around. According to figures compiled by Inside MBS & ABS, it appears that most REITs have been intentionally reducing their MBS holdings over the past several quarters, preparing for the day when bond prices finally fall. At Sept. 30, 16 publicly traded REITs held...[Includes one data chart]

December 12, 2014 - IMFnews

Mortgage Securitization Rates Continue to Fall as Banks Keep More Loans in Portfolio

The key factor is that some mortgage originators, the megabanks especially, are keeping conventional loans in portfolio that might otherwise be securitized by Fannie and Freddie.

December 11, 2014 - Inside Mortgage Finance

Treasury Calls for Servicing Reforms Beyond Capital Requirements, Including Changes to Compensation

The migration of mortgage servicing rights from “more tightly to less tightly regulated parts of the financial system” should be addressed by regulators, according to the Treasury Department’s Office of Financial Research. The OFR, which was created by the Dodd-Frank Act to serve the Financial Stability Oversight Council, said Basel capital requirements have created incentives for banks to sell MSRs to nonbanks. In its annual report, the OFR cautioned that nonbanks aren’t as well regulated as banks. “Mortgage servicing activity and the accompanying risks appear...

December 11, 2014 - Inside Mortgage Finance

Underwriting Overlays Remain a Concern, GSEs and Lenders Seen as Sharing the Blame

Democrats in Congress and consumer advocates remain concerned about tight underwriting standards for mortgages, particularly due to overlays established by lenders. However, at a hearing this week by a subcommittee of the Senate Committee on Banking, Housing and Urban Affairs, there was a lack of consensus on what causes underwriting overlays. “Instead of matching the creditworthy borrower at the lower end of the distribution with affordable loans, these borrowers are being cut out of the market entirely,” said Sen. Robert Menendez, D-NJ, chairman of the Banking Subcommittee on Housing, Transportation and Community Development. Sen. Elizabeth Warren, D-MA, suggested...

December 11, 2014 - Inside Mortgage Finance

Fannie and Freddie Roll Out Much-Anticipated 3 Percent Downpayment Option, Mortgage Industry Response Tepid

Fannie Mae and Freddie Mac this week officially announced 97 percent loan-to-value ratio programs to a mixed industry response. Fannie’s low-downpayment option will be available through its MyCommunityMortgage program, as well as for refinances and other non-MCM mortgages. Freddie will offer its 3 percent downpayment product as a purchase or no-cash-out refinance in its Home Possible Advantage program. The biggest difference between the two is...

December 11, 2014 - Inside Mortgage Finance

Quicken Completes LPMI ‘Sale’ in 60 Hours, Gives Up Profits for Exposure; Other Wholesalers May Follow Suit

Quicken Loans, the nation’s largest nonbank lender, recently offered a lender-paid mortgage insurance “sale” through loan brokers, committing $100 million to the effort and wrapping up the promotion in roughly 60 hours. According to Tod Highfield, vice president of loan production at Quicken, the sale wasn’t designed to hit any volume targets per se, but was meant to heighten the firm’s profile among certain segments of the origination market, namely brokers, credit unions and community banks. The offer was pitched...

December 11, 2014 - Inside Mortgage Finance

Jumbo Originations Continued to Shine in 3Q14 With Boost From Agency-Conforming Activity

Jumbo mortgage lending and securitization remained one of the bright spots in the home-loan business during the third quarter of 2014, according to a new Inside Mortgage Finance analysis. A total of $81.8 billion in mortgages exceeding the traditional $417,000 conforming loan limit were produced during the third quarter, up 15.4 percent from the second quarter of 2014. Total mortgage originations were up 11.3 percent over the same period. Total jumbo activity included...[Includes three data charts]

December 11, 2014 - IMFnews

Affordable Housing Contribution Will Cost GSEs $300 Million a Year; Some Pols Mad

Rep. Ed Royce of California: "Money coming in from the GSEs should go to the taxpayers instead of a slush fund for ideological housing groups to play around with.”

December 11, 2014 - IMFnews

Third Quarter Production Analysis: Jumbos a Bright Spot; Nonbanks Strong

According to Inside Mortgage Finance, among the top 15 jumbo originators eight are nonbanks.

December 10, 2014 - IMFnews

Key Democrat Predicts GSE High LTVs Will be Under ‘Siege’ in the Next Congress

Sen, Menedez added: “These [programs] were not the drivers of the financial crisis. We’re going to hear the opposite of that in the next session of Congress.”

December 9, 2014 - IMFnews

Nonprofits Complain About Losing GSE, FHA NPL Auctions to Hedge Funds

Many of those winning bidders are hedge funds with Wall Street backing, including Lone Star Funds and Bayview Asset Management.

December 9, 2014 - IMFnews

FHFA Still Working on Capital, Liquidity Standards for Nonbanks

One source told IMF that in some instances, certain nonbanks have been asked by the agencies to hold “more capital” in reserve accounts than other seller/servicers.

December 8, 2014 - IMFnews

IMA Offering $3.47 Billion Freddie Mac MSR Portfolio

According to the offering circular, the package has no delinquencies and a coupon of 3.70 percent.

December 8, 2014 - IMFnews

GSEs Officially Re-Enter 97% LTV Market; But Will it Make a Difference?

Freddie’s program, which is called “Home Possible Advantage,” requires a minimum credit score of 660 for purchase loans, and 680 for "no cash-out" refis. This is only for manually underwritten loans.

December 5, 2014 - Inside FHA Lending

Around the Industry

Final PMIERS Rule Expected in 1Q15. The Federal Housing Finance Agency has revised its timeline for publishing a final version of the Private Mortgage Insurance Eligibility Requirements, which Fannie Mae and Freddie Mac proposed in July at the direction of the FHFA. The PMIERS will establish capital and other requirements for private mortgage insurers. In a statement, industry trade group U.S. Mortgage Insurers said it has received word from the agency that the final PMIERS would not be published until at least late in the first quarter of 2015. The FHFA initially indicated that a final rule would be issued by yearend 2014. The USMI reiterated its support for an updated PMIERS. Mortgage Executives Concerned About G-Fee Increase. A survey of mortgage executives at this year’s Mortgage Bankers Association annual conference found 53 percent saying that ...

December 5, 2014 - Inside FHA Lending

FHA to Share in Landmark BofA Settlement

The FHA and Ginnie Mae will share in the record-setting $16.7 billion settlement between Bank of America, the Department of Justice and certain other federal agencies and six states to resolve claims related to mortgage fraud and toxic mortgage-backed securities. The FHA will receive approximately $800 million and an undisclosed amount for consumer relief from BofA. The bank was accused of falsely certifying poorly underwritten loans for FHA insurance, resulting in huge losses for the agency. It is unclear how much Ginnie Mae’s share would be from the settlement. “As a direct endorser of FHA-insured loans, Bank of America performs a critical role in home lending,” said U.S. Attorney Loretta Lynch for the Eastern District of New York during the announcement of the global settlement in August. “In obtaining a payment of $800 million and sweeping relief for troubled homeowners, we have not ...

December 5, 2014 - IMFnews

Private MIs on Front-End Risk Transfers: Bring it On

Mortgage insurers are interested in moving forward with a year-old MBA proposal for a risk-sharing program that would allow deeper MI coverage on loans with high loan-to-value ratios.

December 5, 2014 - Inside MBS & ABS

SFIG to FHFA: Implementation of Single GSE Security Should Proceed Ahead of Congress, Transparency a Must

The Federal Housing Finance Agency should not wait for Congressional reform and should instead move at a deliberate pace to implement a single government-sponsored enterprise MBS, according to the Structured Finance Industry Group. SFIG staff and several members met with FHFA officials this week to discuss the potential transition to a single, common security between Fannie Mae and Freddie Mac. In August, the FHFA proposed...

December 5, 2014 - Inside MBS & ABS

Agency MBS New Issuance Tumbled in November As Purchase-Mortgage Activity Began to Slow

New issuance of Fannie Mae, Freddie Mac and Ginnie Mae single-family MBS fell 13.7 percent from October to November, according to a new Inside MBS & ABS analysis of loan-level data. The three agencies produced $80.23 billion of single-family MBS last month, the lowest amount since June. November also marked the first monthly decline in new production after seven consecutive monthly gains that started in April. All three agencies saw...[Includes two data charts]

December 5, 2014 - IMFnews

Issuance of Agency MBS Tumbled in November as Purchase Activity Slowed

All three agencies saw double-digit declines in new production, but Fannie Mae experienced the the biggest decline.

December 4, 2014 - Inside Mortgage Finance

FHFA Policy Directive Allows Some Former Foreclosed Borrowers to Purchase Home From Fannie, Freddie REOs

Some foreclosed homeowners may have the option to repurchase their homes at fair market value following a new directive from the Federal Housing Finance Agency that calls for the two government-sponsored enterprises to relax policies related to the sale of real estate owned properties to defaulted borrowers. The two government-sponsored enterprises until now have required foreclosed borrowers that want to purchase their home from REO inventory to pay the full amount of the unpaid debt on their previous mortgage. “This is...

December 4, 2014 - Inside Mortgage Finance

Private MIs Supportive of MBA Proposal for Front-End Risk-Sharing but Want PMIERs to be Finalized First

Private mortgage insurers would support a front-end, risk-transfer program that makes greater use of MI, such as the one proposed by the Mortgage Bankers Association, to reduce taxpayer risk, according to MI executives. The MIs are interested in moving forward with a year-old MBA proposal for a risk-sharing program that would allow deeper MI coverage on loans with high loan-to-value ratios, and coverage on loans with LTVs below 80 percent, accompanied by a reduction in guaranty fees. Importantly, this would require lowering the floor on loss factors to account for these lower-risk loans, the MBA said. However, two important things must be...

December 4, 2014 - Inside Mortgage Finance

FHFA Advisory Bulletin Outlines Risk-Based Oversight Framework for Fannie, Freddie

Fannie Mae and Freddie Mac should each implement a board-approved risk-management framework that specifically includes risk-based oversight of single-family seller/servicers, according to an advisory bulletin issued this week by the Federal Housing Finance Agency. The new “supervisory expectation” covers numerous seller/servicer oversight activities that the government-sponsored enterprises have done for years, albeit pulling them all together under a comprehensive framework. It implements a recommendation made by the FHFA inspector general in July, which expressed concern that the regulator is not paying enough attention to the financial condition of certain nonbank servicers that make up a growing share of Fannie/Freddie business. “FHFA expects...

December 4, 2014 - Inside Mortgage Finance

Refinance Originations Gained Some Momentum In 3Q14 as Purchase Market Began to Cool

Mortgage lenders have been chasing purchase-mortgage business since the refinance market started to subside early in 2013, but the refi sector showed considerable strength during the third quarter of this year, according to a new Inside Mortgage Finance ranking and analysis. Refinance originations increased by 21.4 percent from the second quarter to the third, with an estimated $136 billion in production volume. At the same time, purchase-mortgage originations rose by just 5.6 percent, to an estimated $209 billion. Refi lending is...[Includes five data charts]

December 2, 2014 - IMFnews

Short Takes: Special Servicers Beat Banks on Distressed Mortgages… / One Caveat Though / Looser Mortgage Credit? Hah! / Northrim Closes M&A Deal / Former Freddie Official Lands at StoneHill

A new poll from IMFnews and Inside Mortgage Finance suggests that lenders are hardly optimistic that the R&W changes will amount to anything.

December 2, 2014 - IMFnews

FHFA Cautions GSEs on Risk Management Oversight

Just because a GSE uses a third-party vendor to assess the risk of seller/servicers as counter-parties that doesn’t mean the GSE – or their management – is off the hook if something goes awry.


What will Fannie Mae’s and Freddie Mac’s new 97 LTV programs mean for your business?

It will give our business a big boost as there is a lot of pent up demand for the product.
It will have only a minor impact on our overall business as we already are doing high LTV business through FHA and some of our high LTV FHA business is likely to shift to Fannie and Freddie.
It won’t have any impact on our business as we plan to steer clear of all high LTV business – particularly in the GSE market.

vote to see results
Housing Pulse