Spreads on the latest CRT from Fannie were wider than on the deal the GSE issued in April 2022.

The rescinded fee would have added $1,250 in cost to the purchase of a $300,000 home. Or, borrowers could have elected to pay an extra $24.75 per month on their mortgage.

Timing differences in their provisions for loan losses allowed Fannie’s first-quarter profits to more than double while Freddie’s climbed just 13.2% compared with the fourth quarter. (Includes data chart.)

The ranking member of the Senate Banking Committee has demanded that the FHFA director meet with committee staff to prove the GSEs’ new pricing grids don’t amount to more cross-subsidy.

Concerns voiced by Senate Democrats appear to have prompted an FHFA review of how the GSEs sell their nonperforming and reperforming loans.

Plaintiffs claim former FHFA Director Mel Watt “thwarted” former President Trump’s plan to end the net worth sweep. The government says, “What plan?”

Fannie and Freddie modified their policies to support lower-income borrowers by allowing greater use of downpayment assistance and equity-sharing programs.

Despite significant premiums offered by Fannie Mae, the GSE was only able to repurchase 62.7% of the notes in its latest CAS tender offer.

FHFA has asserted that most of the changes to the GSEs’ loan-level pricing adjustment grids are risk based or meant to meet the GSEs’ capital requirements.

The head of single-family collateral risk management at Fannie Mae took a deep dive on the topic in a recent blog post.