Former MBA President David Stevens believes the idea that the GSEs should assess the MSR valuations of their seller/servicers may have come from Fannie and Freddie themselves.
Because the ERCF dictates that Fannie and Freddie base their underwriting on FICO scores, loans to borrowers with positive rent payment history are still subject to capital charges for less creditworthy homebuyers.
Residential MBS investors say that, rather than publish a social index for their MBS, the GSEs should just disclose the data that goes into making that index.
Spreads on the latest Connecticut Avenue Securities tightened — a sign, perhaps, that Fannie won’t have to pay investors such a high premium to share credit risk.
Fannie and Freddie will institute their own models for assessing the values of MSRs held by seller/servicers, even if those MSRs are for mortgages not owned or guaranteed by the GSEs.
In a reissued bulletin, the mortgage giant said it will allow some duty-to-serve cash-out refinances to receive 0% credit fee caps because of the confusion caused by an earlier notice.
Plaintiffs hope that a pattern of illegal contract interference and the theft of trade secrets will justify RICO charges — and treble damages — against the Ohio lender.