Trade groups point out the irony of raising mortgage rates at a time when the Federal Reserve is spending more than $40 billion a month on agency securities in an attempt to lower the cost of buying or refinancing a loan.
Despite a sharp drop in GDP in the second quarter, Fannie economists expect mortgage originations to reach $3.4 trillion in 2020, the most since the banner year of 2003.
CBO, in a report that received little notice, based its estimates on a variety of assumptions about the companies’ retained earnings, capital requirements and more...
MBA President Bob Broeksmit argues that the new LLPA “flies in the face of the administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners.”
Extending the GSE patch until six months after the new QM rule goes into effect would give market participants adequate time to prepare, and minimize the number of loans impacted by the change.
The bright spot in the FHLBanks’ earnings report was net interest income, which climbed to $1.25 billion 2Q20, a 36.4% sequential increase, despite the fact that advances declined by almost 31%. (Includes data chart.)