Fannie Mae belatedly joined Freddie Mac in establishing ground rules for seller/servicers that deploy or manage artificial intelligence or machine learning tools while doing business with the enterprise.
Fannie Mae extended duration by shifting from short- to long-term debt, but allowed overall debt to grow. Freddie de-levered by cutting short-term debt without adding to long-term debt.
Since 2016, when the duty-to-serve rule compelled the GSEs to make it easier to buy homes in rural census tracts, home prices have remained mostly stable and rents have declined.
The move will increase the size of eligible loans and the number of units allowed, but stiffer qualification requirements may alienate smaller landlords.
Trump budget ignores GSE reform; Morningstar DBRS affirms AAA ratings on GSEs; Vice Capital an early adopter of new low loan balance payment categories; Fannie to simplify income eligibility calculations for some LLPA waivers.
Carrington Mortgage Services was the top bulk buyer of agency MSR in the first quarter of 2026, thanks to a large acquisition of Ginnie servicing from Pennymac. Bayview Asset Management was the top buyer in the coissuance market. (Includes three data tables.)
Non-agency MBS issuance hit its highest level since the third quarter of 2007, largely because of surging production of the new generation of Alt A and subprime deals. JPMorgan Chase was the top issuer and top underwriter in the first quarter. (Includes three data tables.)
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