Poor internal controls at FHFA failed to prevent or correct errors totaling almost $4 million, according to the Government Accountability Office. The solution: better communication between accounting and other business units.
Mortgage professionals can use a free online tool from Fannie to get more accurate income calculations and benefit from rep and warrant relief for the loans they sell to the GSE.
The FHFA director suggested the decision on whether to release Fannie and Freddie from conservatorship depends mostly on President Trump and Treasury Secretary Scott Bessent.
Recent comments by the FHFA director suggest the Trump administration has no immediate plans to release Fannie and Freddie from conservatorship. Rather, FHFA will continue to focus on fraud and abuse at the enterprises.
First-quarter earnings reports suggest the reduced size of Fannie Mae’s guarantee book of business may be impacting its market share vis a vis Freddie Mac.
Although consistent rent payments over time are one of the best indicators of a borrower’s ability and willingness to repay a mortgage, GSE programs that exploit that information are woefully under-utilized.