The securitization will pay off existing construction loans on 21 properties in 10 states while also creating a revolving facility to fund the remaining construction costs and acquire new properties.
Alarmed by the administration’s repeated references to ending the conservatorships of Fannie Mae and Freddie Mac, leading Democrats in the Senate are attempting to tap the brakes.
Most of the positive response has been driven by President Trump’s posts on Truth Social in which he vowed to maintain the implicit guarantee and keep the GSEs under his oversight.
Deliveries to Fannie and Freddie rose last month even as the GSEs’ market share is the lowest since the global financial crisis. (Includes two data tables.)
The FHFA director’s criticism of FICO gave lenders a chance to call for price reductions on credit scores and reports. FICO countered by saying its wholesale prices are a tiny fraction of closing costs.
The controversial software giant will use its AI-powered financial crimes detection technology to scour Fannie’s vast databases for signs of mortgage fraud, starting with multifamily loans.
A coalition of more than two dozen affordable and fair housing advocacy groups urged FHFA and HUD to reverse course on staffing cuts and program eliminations.
House Democrat Susie Lee of Nevada wants some answers about how many foreclosed homes in her state are bought by well-heeled investors from other places and how that affects the availability of affordable housing.