Chase is marketing a $1.61 billion deal with prime jumbos and a $566.4 million security with investment-property loans, many of which were eligible for sale to the GSEs.
Fannie Mae said its mortgage servicers are authorized to offer payment forbearance for up to 90 days to those impacted by Hurricane Ida, even if they don’t hear from the homeowner — that is, if the servicer believes the homeowner was affected by the disaster.
Restrictions placed on the GSEs earlier this year by their regulator are prompting loan aggregators and lenders to sell agency-eligible mortgages for investment properties into the non-agency market.
In a recent advisory bulletin, the regulator directed the FHLBs to limit the size of their exposure to CMBS issued by Fannie Mae and Freddie Mac, and to ensure proper diversification of their portfolios.
GSE securitization of investment-property mortgages fell by 33% on a sequential basis in the second quarter, while overall single-family GSE activity was down only 5%.
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