Despite opposition from industry members worried about legal implications, the Federal Housing Finance Agency decided to add a language-preference question to a redesigned loan application that will be required for Fannie Mae and Freddie Mac loans in February 2020. On Oct. 20, the FHFA announced that the question will be added to the loan application to enable borrowers who prefer to communicate in a language other than English to identify that language. The Fannie/Freddie regulator also ...
MBA chief Dave Stevens: “What happens if the president nominates a new [FHFA] director who thinks the government role in mortgage finance is too large and wants to scale it back?"
Cowen: “We continue to believe the Senate Banking Committee must release a legislative plan in 2017 for Fannie and Freddie if it is to be enacted in the 115th Congress.”
Most servicers of Fannie Mae and Freddie Mac single-family mortgage-backed securities saw growth in their servicing portfolios during the third quarter, but a handful of top banks continued to buck the trend.A new Inside The GSEs analysis of MBS disclosures shows $4.629 trillion of Fannie/Freddie servicing outstanding at the end of September. That was up 1.8 percent from the previous quarter, with Fannie (up 2.1 percent) gaining market share on Freddie (up 1.3 percent). Ginnie Mae servicing remained a faster-growing market, with $1.749 trillion outstanding, up 2.2 percent from the end of June. Large banks continued to show tepid interest in the GSE servicing market.
Fannie Mae and Freddie Mac are poised to report robust earnings for the third quarter, likely blowing past results of the prior two periods, according to an analysis by Inside The GSEs. The only question now is this: Just how good will it be? “And most of that money will be swept into the Treasury,” noted Tim Rood, a former Fannie Mae executive who now heads The Collingwood Group. Not only did the GSEs benefit from a strong origination and MBS issuance market in 3Q17, but a previously announced legal settlement with Royal Bank of Scotland will finally hit the books.
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