Out of the $3.158 trillion unpaid principal balance in Fannie’s population of outstanding MBS, $201.3 billion would be eligible for a refi under the new program.
The program will be rolled out to GSE borrowers with incomes at or below 80% of a geographic area’s median income. One stipulation: no more than one missed payment in the past 12 months.
Fannie and Freddie hope to repeat their success with green multifamily MBS on the single-family side of the business. They’re also expanding their ESG offerings into social and sustainable bonds.
The Fed and commercial banks purchased a combined $1 trillion in agency MBS over the past 12 months, more than 145% of the net supply. (Includes data chart.)