The enterprise said 544 loans from uniform MBS pools and 677 loans from mega/super pools were erroneously liquidated due to a servicer’s error. Investors in the securities have the option to pursue claims.
While Fannie began accepting single-family SOFR-indexed ARMs in Au-gust, it stopped taking LIBOR-indexed mortgages at the end of September. By the end of the year, the enterprise will no longer issue LIBOR-linked MBS.
The majority of Freddie Mae’s forborne multifamily loans were in small-balance loan pools. Just 251 of them loans were in the company’s signature K-deals.
FHFA Director Mark Calabria hopes to finalize the GSE capital rule before yearend. But the proposal is so controversial that many industry watchers said it most likely won’t survive a change in administration.
The controversial refi-related LLPA from Fannie Mae and Freddie Mac has been delayed until later in the year. Might it be killed outright? (Lenders can only hope.)
In a joint statement, the CEOs of Fannie and Freddie said the new adverse market fee will not increase borrowers’ costs, it will only reduce their savings.
A new 50-basis-point fee on GSE refis caught the mortgage industry off guard this week. A big deal or much ado about nothing? Either way, lenders are not happy.