Issued in late November, the new FHFA regulatory framework mandates Tier I capital of at least 4.0% for Fannie and Freddie, a bar that some stakeholders believe is too high.
The highest year-over-year gains were reported in Phoenix (12.7%), Seattle (11.7%), and San Diego (11.6%). Meanwhile, New York (6.0%), Chicago (6.3%) and Las Vegas (6.4%) lagged behind...
Still, the overall share of ARMs is declining. The loans accounted for 7.5% of first-lien originations in the first nine months compared to 10.8% for full year 2019.