In her letter, Rep. Waters acknowledges the need to manage the risk associated with forbearance loans, bu recommends an alternative to the steep LLPAs leveled by FHA and FHFA. Instead, the congresswoman says those costs should be spread across the agencies’ broader single-family portfolios, resulting in “near-negligible costs on any individual loan.”
Nonbank lenders and mortgage real estate investment trusts stand to gain from expanding the eligibility requirement for FHLBank membership, according to industry comment letters.
In its annual report to Congress, the FHFA recommended legislation that will allow it “to examine the records, operations and facilities” of all Fannie/Freddie servicers.
Instead of larger, multi-issuer uniform MBS pools, FHFA wants seller/servicers to closely monitor the prepayment speeds of their broker/correspondent channels to ensure closer alignment of Fannie/Freddie pools.
Independent mortgage bankers heaved a sigh of relief after the Federal Housing Finance Agency said it will re-propose the minimum financial eligibility requirements for single-family seller/servicers.
Eight Democratic senators have called upon the FHFA and the CFPB to do more than just share information to protect borrowers during the corona-virus crisis.