When consumers were directed to Amerisave’s website, the lender gave quotes based on an 800 FICO score, even where consumers had previously entered a FICO score below 800, the agency said.
“The government presumably feels emboldened from the decisions that it’s been getting, and we anticipate that those will continue in the near future,” one mortgage buyback expert said.
Fannie-backed MBS, in general, trade better than Freddie participation certificates (PCs), which has resulted in guaranty fee pricing differentials between the two.
SIFMA noted that in recent years both the FHFA and Congress have increased the GSEs’ guarantee fees in an effort to reduce their market share and make non-agency MBS issuance more competitive.