Mat Ishbia, the CEO of the nation’s largest table-funder United Wholesale Mortgage, said FHFA limits on GSE purchases of second home and investment property mortgages are already adding to consumer costs.
Anxiety builds over when and what the Supreme Court rules on the constitutionality of FHFA and whether investors should be recompensed for the net worth sweep.
Mortgage industry groups continue to put pressure on the Treasury Department and the Federal Housing Finance Agency to revisit the restrictions on the amount of loans Fannie Mae and Freddie Mac can purchase.
CSS, a joint venture of Fannie Mae and Freddie Mac, has been on something of a hiring spree of late. In 2020, at the direction of the Federal Housing Finance Agency, the company increased the size of the board by three members, the last two of which were picked early this year. In December, CSS also picked a new chief technology officer.