The FHFA wants to place a volume cap on mortgages sold through the Fannie/Freddie cash window. An effort to boost lender securitizations or something else?
As LBA Ware CEO Lori Brewer put it, “They were rewarded for their long hours with robust compensation checks.” However, with rates predicted to fall in 2021, loan teams will probably have to focus more on purchase loans, Brewer said.
Democrats on the Senate Banking Committee are putting pressure on FHFA to answer whether the GSEs’ NPL sales impact homeowners’ access to foreclosure and forbearance protections under the CARES Act.
The concern centers on a clause that states beginning January 2022, the FHFA will cap the amount of mortgages any lender can deliver to the cash window at $1.5 billion over any four-quarter period.
The FHFA IG highlighted the agency’s failure to ensure the boards of the two GSEs are notified after its Division of Enterprise Regulation has identified serious deficiencies in management. The OIG said this has been the state of affairs since at least 2016.
MIAC is looking to place fix-and-flip loans originated by an unidentified lender in the mid-Atlantic. The seller, using private funds, is currently funding $3 million to $5 million of product per month…