The new CHOICEReno eXPress loan allows homebuyers to incorporate the cost of minor repairs and renovations into their mortgage.

Big-league housing groups, including the Mortgage Bankers Association and the National Association of Realtors, warned senators not to use the g-fee as “the nation’s piggybank.”

Fannie and Freddie are likely to have raked in more than $5 billion combined in adverse market fees on refinances before FHFA Acting Director Sandra Thompson decided to shut the program.

The Fed plans to maintain quantitative easing, arguing that current inflationary trends are transitory.

Lenders, real estate agents and condo boards lambaste the GSE for using vague and undefined terminology to determine whether it will purchase mortgages from projects with significant short-term rental activity.

Some sellers may be able to redistribute their sales of investor and second-home mortgages to meet new Fannie and Freddie purchase limits. But many will have to sell fewer of the loans. (Includes two data charts.)

With Fannie already over the PSPA cap on non-owner-occupied loan volume, lenders may have to dramatically reduce their delivery of second-home and investor-property mortgages.

Small lenders believe the GSEs should offer special programs for small servicers and rural appraisals. And like their larger competitors, they don’t like the new PSPAs.

Fannie and Freddie spell out eligibility terms in the wake of the amended PSPAs.

Even though the GSEs actively support small lenders on the single-family side of the house, critics say their multifamily businesses continue to favor larger financial institutions.