One of the key functions of the GSEs is to pool risk nationally for the benefit of underserved borrowers, and any capital framework for the enterprises has to build in this cross-subsidy, according to housing advocates.

A number of top lenders shifted gears to focus on the high-margin GSE business in the second quarter while curtailing their non-agency jumbo production. (Includes three data charts.)

After hearing the industry’s clamor, the FHFA delayed the 50-basis-point fee while also exempting low-balance loans.

Self-employed borrowers are facing tighter underwriting standards on conventional mortgages but not on non-agency loans.

Michael Fein, owner and manager of apartment complexes, has been indicted for using false rent rolls to obtain federally-guaranteed loans.

Trade groups point out the irony of raising mortgage rates at a time when the Federal Reserve is spending more than $40 billion a month on agency securities in an attempt to lower the cost of buying or refinancing a loan.

Even under modest assumptions, Fannie and Freddie likely won’t have enough available equity to make a sale of common worthwhile.

Despite a sharp drop in GDP in the second quarter, Fannie economists expect mortgage originations to reach $3.4 trillion in 2020, the most since the banner year of 2003.

In 2008, there were 49 depositories with at least 51% Black ownership. By the first quarter of 2020, that number had fallen to just 21.