Freddie’s head of single-family acquisitions said programs, such as DPA One, BorrowSmart and HeritageOne, have helped the GSE lower closing costs and expand access to mortgage credit.
Freddie Mac’s new $2,500 credit for buyers earning less than 50% of area median income closely resembles an initiative announced last month by Fannie Mae.
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.
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.
Under the terms recommended in FHFA’s review of the Federal Home Loan Banks, 85 current members would fail to meet the 10% mortgage-related asset rule.