Under the new guidelines, at least 50% of the multifamily loans that Fannie and Freddie purchase must be for affordable housing. That’s up from 37.5% under the prior caps.

Former MBA president David Stevens believes the adverse market fee has nothing to do with COVID-induced risk. “It’s about building up the capital of Fannie and Freddie,” he said.

On the multifamily side of the aisle Fannie purchased 385,763 units in the low-income category. Freddie did even better: 495,451.

Industry stakeholders said FHFA should find tremendous value in the CRT program as it reduces systemic risk by distributing risk across many investors and transactions.

When questioned about the steep fee the GSEs charge to buy early forbear-ance loans, the FHFA director turned the tables on the lawmakers: Why didn’t Congress pay for it in the CARES Act?

Nonprofit groups said the new rule will lead to higher guarantee fees, potentially pricing many low-income families and families of color out of the GSE channel.

Jeffery Hayward will assume the newly created position of chief administrative officer at Fannie. He will oversee affordable housing, as well as environmental, social and governance programs.

Still, Rep. Maxine Waters (D-CA), chair of the House Financial Services Committee, urged the Federal Housing Finance Agency to kill the LLPA outright.

After the comment period on the re-proposed GSE capital rule closes, the FHFA will hold “listening sessions” allowing stakeholders to elaborate on their comments.

Signs of life in the servicing sales arena? A little bit of late, but don’t bet the farm on it.