Of the total in COVID deferral status at the end of March, 91.56% of loans were current. Another 3.76% were one or two payments past due, and 4.69% were three or four payments late.
Fannie and Freddie once again turned in stellar results. In the first quarter, profits increased along with their net worth positions. (Includes data chart.)
FHFA says appraisal waivers may subside after the agency reviews comments in its outstanding RFI. However, the cash window caps may be here for a while.
If new policies that incentivize homeownership are not implemented, the Hispanic community will be the only ethnic group to experience an ownership gain.
While the Treasury and FHFA said the 7% cap was “aligned with the current levels” of acquisitions by the GSEs, some analysts believe the loans have accounted for somewhat more than 7% of purchases by Fannie and Freddie each year since 2013.
“March 31 servicing marks were up significantly from where they were at Dec. 31,” said George Christo, executive vice president of The Prestwick Group.
Both companies — wards of the federal government since the fall of 2008 — have benefitted from record originations, which in turn have juiced secondary market transactions, and subsequently their profits.
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