An improving economy made it possible for the mortgage giant to generate $5.10 billion in credit-related gains in 2021.

But credit-related charges at the mortgage giant went from $194.0 million in the third quarter to $604.0 million in the fourth quarter.

Non-agency mortgages for investment properties are increasing thanks to volatility in GSE pricing and lenient underwriting standards. Volume could take a hit as interest rates increase.

Bank M&A deals are lingering. Blame the regulators or is it something else? Meanwhile, LOs are trying new products, including reverse mortgages.

Once a “flexibility” intended to help lenders deal with the pandemic, the desktop appraisal is about to become a permanent fixture of Freddie’s Loan Advisor and Fannie’s Desktop Underwriter.

The Biden administration and Congress need to address some major risks to the housing-finance system, according to the Government Accountability Office. The administration is still developing plans and there’s little urgency in Congress.

The mortgage industry has resigned itself to no administrative end to the Fannie and Freddie conservatorships. It’s still unclear what happens to the GSEs’ capital requirements.

Loan-level price adjustments charged by the government-sponsored enterprises for loans in high-cost areas and for second-home mortgages are set to increase this spring.

Acting Director Sandra Thompson has directed Freddie Mac and Fannie Mae to factor climate change into their business decision-making.

The proposed capital planning rule could set the stage for post-conservatorship regulation of the GSEs, but it still relies on capital requirements that the enterprises may not meet for at least a decade.