GAO called for Ginnie Mae to develop processes for participating in interagency exercises, noting that FHFA did a better job than Ginnie in an FSOC effort aimed at addressing the likely failure of a major nonbank mortgage company.
Uncertainty on the future of Fannie Mae and Freddie Mac has caused some lenders to deliver their agency-eligible production to the non-agency secondary market.
Combined issuance of Fannie Mae CAS and Freddie Mac STACRs came to $8.31 billion in 2024 — the lowest total since 2013, the year GSE CRT activity started. (Includes data table.)
STACR and ACIS activity in 2025 is expected to be similar to 2024, or slightly higher, due to a larger pipeline of loans eligible for inclusion in CRT.
The Trump administration has initiated an effort to end leases on office space used by the federal government. Some properties in commercial MBS have government leases but few deals face elevated exposures, according to S&P.
The lending affiliate of the Onity Group paused its non-agency operations in Maryland as a new state regulation requires all parties involved in the mortgage lending process to be a licensed mortgage lender.
Cyberattacks against mortgage companies are a growing concern. Insurance can cover some of the financial losses, but premiums are spiraling out of control, some executives report.
FHFA must turn conservatorship directives into regulations before releasing the GSEs from conservatorship, according to former agency director Mark Calabria. But an explicit guarantee is unnecessary, he said.
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