The nonbank share of GSE servicing hit 57.8% as of the end of March, up from a 57.0% share at the end of 2023. Two of the largest banks reduced their GSE servicing during the first quarter. (Includes two data tables.)
A proposal from Freddie Mac to acquire second liens prompted immediate reactions. The GSE rebuts claims that its plan represents “mission creep” or that it would interfere with the existing securitization market for closed-end seconds.
The GAO’s fact-filled, even-handed review of the FHLBanks’ role in last spring’s regional banking crisis has been used to justify arguments by both critics and supporters of the banks.
The rating service focuses on the government’s implicit guarantee and the critical role the GSEs play in housing finance and the financial sector more generally. Fannie and Freddie also have healthy earnings.
By focusing on refis, FHFA will be able to assess the ability of its title insurance waiver pilot to reduce closing costs with a smaller group of lower-risk loans.