A JPMorgan Chase official noted that Fannie Mae and Freddie Mac can complete credit risk transfer deals and nonbanks have options as well, but banks? Not so much...
Some players in the market hoped that once the QM patch expired a significant amount of originations would shift from the GSEs to the non-agency market. But those hopes are fading...
The FHFA in September increased the cap on Fannie’s and Freddie’s multifamily lending to $100 billion each through the end of 2020, with at least 37.5% of their business earmarked for affordable housing.
A top Justice Department official said the memorandum of understanding gives depository institutions the confidence they need to participate in the FHA program…