The concern centers on a clause that states beginning January 2022, the FHFA will cap the amount of mortgages any lender can deliver to the cash window at $1.5 billion over any four-quarter period.
The number of Ginnie Mae loans in forbearance came in at 7.61%, down 6 bps for the week while the Fannie Mae/Freddie Mac tally declined to 3.11%, a 2 bp improvement.
The FHFA IG highlighted the agency’s failure to ensure the boards of the two GSEs are notified after its Division of Enterprise Regulation has identified serious deficiencies in management. The OIG said this has been the state of affairs since at least 2016.
Researchers at the think tank focused on the presence of appraisal bias during refinancing transactions because such loans “lack an arm’s length transaction.”
Private MIs were particularly strong in the purchase-loan market, with annual GSE sales of $366.87 billion — which represented 51.0% of all insured purchase loans securitized by the agencies...
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