The council said any distress that affects the secondary mortgage market activities of the GSEs “could pose a risk to financial stability if those risks are not properly mitigated.”
When questioned about the steep fee the GSEs charge to buy early forbear-ance loans, the FHFA director turned the tables on the lawmakers: Why didn’t Congress pay for it in the CARES Act?
Wells Fargo Securities predicts the delinquency rate for high quality Fannie collateral — mortgages with loan-to-value ratios between 60% and 97% — will reach 4.3% in October.
FHFA officers told the inspector general that they believed performing some of the required security assessments “was an inefficient use of agency resources.”
Chris Boyle will be in charge of all external-facing functions at the digital mortgage lending platform, including strategy, marketing and business development efforts.
The volume of eMortgages purchased by Fannie and Freddie has grown more than fourfold since 2018, but it’s still a tiny fraction of their single-family business.