Between 2022 and 2024, Fannie’s open multifamily fraud investigations spiked from 14 to 193. In the same interval, actual fraud findings went from 3 to 87.
Freddie is revising its liquidity verification documentation requirements for sponsors to include a liquidity verification worksheet with delivery of the full underwriting package.
Fannie alerts seller/servicers to stiffer fraud detection rules. For example, lenders have 24 hours to report any borrower if they’re found on the Department of Treasury’s foreign assets control sanctions list.
UI researchers explore whether the GSEs, by accepting new loan products, can help alleviate the lock-in effect and improve affordability for homebuyers.
Rural lawmakers protest GSE guidelines that require borrowers to have replacement cost value homeowners insurance if their mortgage is purchased by Fannie Mae or Freddie Mac.
The changes impact mortgages on manufactured homes, the treatment of rental income, undisclosed liabilities and single-closing construction-to-permanent loans.
According to an analysis by a former FHFA economist, GSE market share ranges from 14.5% in Eagle Pass, TX, to 67.0% in Boulder, CO. Except for Puerto Rico, these disparities are widest in the South and Southwest.
While market share of small- and mid-sized nonbank lenders grew, there was some leakage at the large nonbank lenders. Large mortgage companies’ market share fell sequentially to 53.8% from 56.1%. (Includes two data tables.)
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