Mortgage industry participants said Fannie should make public a list of condo projects that are ineligible for sale to the enterprise. Fannie said lenders have other financing outlets, including holding the loans in portfolio.
The updated UAD is supposed to improve the accuracy and efficiency of the appraisal process, but lenders worry it will add significant costs to the mortgage process.
Industry stakeholders have welcomed the FHFA’s plan to make payment deferrals a regular part of loss mitigation. MBA suggested more standardization of workout options is in order.
Most banks are better insulated than Silicon Valley Bank from duration risk in MBS and similar holdings, according to Federal Reserve Chair Jerome Powell. (Includes two data charts.)
It’s been four months since FHFA approved new credit scoring models for loans delivered to the GSEs. While the transition wasn’t going to be quick, industry participants are still waiting on a timeline.
While the GSEs are under mandates to shrink their retained portfolios, Freddie’s holdings increased in the final three months of 2022. (Includes data chart.)