The reduction in costs helped lenders that maximize LPA maintain profitability while the industry as a whole experienced a negative 5.8% margin, according to findings from Freddie Mac.

The pilot is limited to certain states and will only be offered through approved pilot lenders.

FHFA states the GSEs must integrate the management of climate-related risks into their existing governance frameworks.

Naa Awaa Tagoe, deputy director for housing mission and goals at FHFA, waded through some of the agency’s most recent controversies at the MBA’s secondary market conference.

Many trade groups denounced Freddie’s plan to buy second liens, saying key details were lacking. There are also concerns that Freddie’s effort will simply cannibalize an otherwise healthy and liquid non-agency market for second liens.

Fannie Mae and Freddie Mac this week announced enhancements to their flex modification programs. The primary aim is to ensure that modifications result in a 20% reduction in P&I payments.

A new advisory bulletin from the FHFA will require the GSEs to come up with comprehensive, actionable plans to deal with the impacts of climate change on housing finance.

Fannie and Freddie boast about their downpayment assistance and consumer education programs, key initiatives to help first-time homebuyers in a high-interest-rate, low-supply market.

The capital markets teams at Fannie Mae and Freddie Mac tweaked their product offerings in May.

High delinquency rates in the GSEs’ senior housing portfolios suggest that the sector still hasn’t recovered from the panic created by the pandemic. High interest rates and inflation haven’t helped.