Fannie Mae and Freddie Mac released details on FHFA’s new policy of extending natural disaster-related reps-and-warranty relief to mortgagees impacted by the pandemic.
Freddie takes steps to ensure its older multifamily housing stock is in adequate repair. This is particularly crucial for properties in affordable housing programs.
High failure rates for lenders trying to implement new edits to certain fee disclosure requirements in Phase 3B of the Uniform Closing Database persuaded Fannie and Freddie to postpone those changes.
As of March, Freddie was named master servicer for 180 securitized transactions comprised of 11,500 loans with a combined unpaid principal balance of $44.1 billion.
Chase Home Finance solidified its position as the largest GSE servicer in the second quarter while the servicing portfolio at second-ranked Wells Fargo continued to shrink.
Chase Home Finance dethroned Wells Fargo as the largest GSE servicer and the big servicers — both banks and nonbanks — expanded their market share in the first quarter of 2023. (Includes two data charts.)
Based on the success of payment deferrals during the COVID-19 emergency and feedback from industry, FHFA has made the option a key part of loss mitigation for the GSEs.