Fannie Mae’s Servicing Marketplace has been up and running since December and the government-sponsored enterprise plans to add additional features later this year.
If President Trump – a builder by trade – truly wants to help the housing market by adding inventory he could order the federal government to sell some of its massive holdings of land to builders at dirt cheap prices...
Fannie Mae and Freddie Mac in the second half of last year saw a rapid growth of loans with high debt-to-income ratios, thanks in part to the so-called GSE patch. The government-sponsored enterprises enjoy a special exemption under the qualified mortgage rule of the Consumer Financial Protection Bureau. To achieve QM status, a loan must have a DTI ratio of 43 percent or less, but if a mortgage is sold to Fannie or Freddie, DTI ratios can be higher. In the second half of 2017, loans with DTI ratios ...
There was a significant increase in deliveries to the GSEs of home loans with high debt-to-income ratios during the second half of 2017, according to a new Inside The GSEs analysis of Fannie Mae and Freddie Mac single-family mortgage-backed securities.The two GSEs securitized $52.90 billion of mortgages with DTI ratios ranging from 46 percent to 50 percent over the last six months of the year. That was up 72.6 percent from the first half of 2017, and the annual total was up 37.6 percent from 2016.
Fannie Mae and Freddie Mac both have initiatives that link homebuyer education counselors to their automated underwriting tools to better determine a buyer’s homeownership readiness. The Federal Housing Finance Agency this week released its 2017 Scorecard Progress Report detailing work on strategic goals for the duo. Under the goal of maintaining credit access, the FHFA said the GSEs have been exploring ways to improve the effectiveness of pre-purchase and early delinquency counseling.Last month, Fannie, the Housing Partnership Network and other housing counseling agencies announced plans to develop a new client case management system. This system will connect Fannie’s automated underwriting products, Desktop Originator and Desktop Underwriter, to housing counseling agencies.