A new Fannie loan product offers lower pricing and more flexibility to conventional multifamily borrowers who voluntarily set aside units as workforce housing.

Lenders sold $55.8 billion in loans to the government-sponsored enterprises in August. The GSEs boosted their share in new MBS issuance to 61.2% in the second quarter, but three in 10 conventional-conforming mortgages did not end up in Fannie/Freddie MBS. (Includes two data charts.)

The mortgage industry generally supports the limited scope of the rule. But consumer advocates believe FIRREA calls for a broader scope, including AVMs used by licensed appraisers.

GSE MBS issuance involving purchase mortgages (and refis) crested in June. Issuance volume declined by 10.4% on a monthly basis in July, though activity at the lender level was far from uniform. (Includes two data charts.)

The controversial proposed capital rule for large banks sets a 75% loss given default rate for GSE debt issued but not guaranteed by the GSEs. For the debt guaranteed by the GSEs, the LGD rate will be 25%.

Chase Home Finance solidified its position as the largest GSE servicer in the second quarter while the servicing portfolio at second-ranked Wells Fargo continued to shrink.

The inclusion of new-built homes with high energy efficiency ratings in Freddie’s green bond program significantly boosted the program’s impact.

Most GSE sellers increased production in the second quarter, though first-half deliveries were still off 60.9% from a year ago. (Includes two data charts.)

Pricing on Fannie’s latest CRT offering topped out at average 30-day SOFR plus 685 bps for the 1B-2 class.

The new value denotes multifamily properties where the borrower sponsors affordable units in cost-burdened or very cost-burdened areas.