Of the lenders analyzed by hedge advisory firm MCT, 25% will be directly impacted by the $1.5 billion cap on the amount of loans Freddie and Fannie can purchase from each seller over any four-quarter period.
The co-inventor of the MBS says Fannie and Freddie should be regulated as utilities to improve their affordable housing and racial equity activities. He recommends Treasury use its equity to fund joint venture.
Democrats on the Senate Banking Committee are putting pressure on FHFA to answer whether the GSEs’ NPL sales impact homeowners’ access to foreclosure and forbearance protections under the CARES Act.
Fannie and Freddie will no longer purchase loans that go into forbearance before delivery. They have, however, begun charging a 50-bps adverse market fee for essentially all refis.