The Mortgage Bankers Association, America’s Credit Unions and the Independent Community Bankers of America asked for three specific policy changes to address housing affordability.
The executive order would prevent federal agencies and the government-sponsored enterprises from facilitating the acquisition of a single-family home by a large institutional investor.
Mortgage rates declined slightly in the government-insured market after the Trump administration directed Fannie Mae and Freddie Mac to purchase a combined $200 billion in agency mortgage-backed securities.
Amit Siroya, managing director of residential investments, asset-based finance, at Barings, said RTL originations could slow in certain pockets that are seeing volatility in home prices.