"Current sentiment reflects pent-up frustration with the overall lack of purchase affordability," said Doug Duncan, a senior vice president and chief economist at Fannie Mae.

Most of the increase in Freddie buybacks in the first quarter of this year came from loans that were securitized in 2023, which totaled $219.1 million and represented 65.8% of Freddie repurchases in early 2024.

Higher for longer persists.

The pilot is limited to certain states and will only be offered through approved pilot lenders.

The new policy includes the implementation of a waterfall of loan modifications designed to reduce borrowers' monthly mortgage payment by at least 20%.

The Trump administration made substantial progress toward ending the conservatorship of Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac issued $428.04 billion of Supers deals backed by first-level uniform MBS during the first quarter of 2024.

“Purchase activity continues to lag despite this recent decline in rates,” said Joel Kan, a vice president and deputy chief economist at the MBA.

The allowable fee lenders/servicers can charge for assumptions of FHA mortgages is now $1,800.

Marcia Fudge is now a partner and chair of public policy at Taft, a law firm.