Fannie Mae’s announcement of an update to its HomeReady program drew applause from the crowd at the MBA’s independent mortgage bankers conference this week.
A tangled web of climate risk, shady insurers, shoddy ratings services and lax insurance rules at the GSEs may snarl Fannie Mae and Freddie Mac in unexpected counterparty risk.
The former FHFA director says Congress will never act, but that the GSEs should create subsidiaries, then complete an initial public offering to get out of government control.
Thousands of stakeholders responded to FHFA’s RFI on the prospect of the GSEs establishing tenant protections for the multifamily properties they back. Most respondents were tenants.