While the Federal Reserve intervened in the mortgage market to lower rates, lenders did not pass along all the savings to homebuyers, the former Freddie chief said.
Another blow-out earnings quarter from Freddie Mac. But earnings were juiced a bit by loan-loss reserve recaptures. Meanwhile, its net worth continues to increase.
Trade groups representing smaller nonbank seller/servicers say it’s the larger nondepositories, with nearly 70% of the market, that pose the biggest risk to Fannie and Freddie.
The Biden administration’s move to reduce the impact of medical debt from consumer credit reporting will make it easier for some homebuyers to qualify for government-backed mortgages.