FHFA’s ban on the GSEs’ use of special purpose credit programs doesn’t appear to apply to HomeReady or Home Possible, neither of which has a racial or ethnic requirement.

FHFA Director Pulte said fired Fannie employees were abusing their remote work status and, in some instances, fraudulently misusing the company’s matching gift program.

Plaintiffs in a New York class-action say Fannie and four other defendants systematically overcalculate the interest charged to borrowers during foreclosure proceedings.

The time frames for servicers to complete routine foreclosures will expand in 17 states and shorten in four others.

The integration of Condo Project Manager into Desktop Underwriter should allow lenders to quickly determine if a condo project is eligible for Fannie-backed mortgages.

Personnel moves at GSEs; Pulte warns lenders; GSE capital markets update; new reports from FHFA’s OIG.

Fannie reported a 3.6% increase in seller repurchases during the fourth quarter, while Freddie volume was essentially flat. For the year, lender buybacks were down 36% from 2023. (Includes three data tables.)

FHFA under the leadership of Bill Pulte has rescinded, deleted or closed at least eight agency directives without providing notice on the agency’s website or announcing the changes in a press release.

The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.

Former Fannie and Freddie CEOs question the durability and utility of the uniform MBS in a post-conservatorship mortgage market.