Wells Fargo Securities predicts the delinquency rate for high quality Fannie collateral — mortgages with loan-to-value ratios between 60% and 97% — will reach 4.3% in October.
FHFA officers told the inspector general that they believed performing some of the required security assessments “was an inefficient use of agency resources.”
Freddie Mac continued to report significantly more repurchase activity in the first quarter of 2020 and the pipeline of unresolved claims was up from the end of 2019. (Includes two data charts.)
States with shelter-in-place orders accounted for 75% of the single-family home loans securitized by Fannie and Freddie last year, and 81% of jobless claims filed last week. (Includes data chart.)
Banks and thrifts held $482.5 billion of advances from the Federal Home Loan Bank system in the fourth quarter of 2019, a 3.3% sequential drop. (Includes data chart.)
Although only a minuscule share of GSE loans are subject to buyback requests, officials still keep a spotlight on the issue. Fannie recently refreshed its seller QC self-assessment. (Includes data chart.)