As Brown and Reed point out, unless Fannie and Freddie specifically require it, the parties purchasing these loans are under no obligation to provide forbearance to the borrowers.

The deadline for potential competitors to submit their proposals was Sept. 15. However, that was just the first of four phases in the selection process established last year by the FHFA. The enterprises expect the process to take at least another year to complete.

At DOR, formerly known as the Division of Conservatorship, Cave will supervise the conservatorships of Fannie Mae and Freddie Mac...

Bair, a native of Kansas, came to Washington under the wing of then-Senator Bob Dole in the early 1980s.

“Let’s be very clear,” Calabria said. “The CARES Act imposed unfunded costs on Fannie and Freddie,” adding that, by statute, the GSEs are required to recoup those costs via income.

The pencil sharpening represents a 13.8% jump from the $3.4 trillion Fannie predicted just month ago, and 88.8% more than the $2.06 trillion in originations the GSE forecast in January, before the advent of the coronavirus pandemic.

Lenders expect originations to increase in the fourth quarter along with strong profits.

Fannie and Freddie warn that g-fees could spike...

FHFA said it originally approved the purchase of forborne loans to improve liquidity in the market. On Wednesday, agency Director Mark Calabria reiterated that assertion: “Extending these COVID-19 flexibilities helps keep the mortgage market moving and borrowers safe during the pandemic.”