The Federal Housing Finance Agency “should require the GSEs to be much more transparent in their risk-sharing transactions,” said the Urban Institute in a new report.
Black Knight Financial also said that despite the reintroduction of Fannie’s and Freddie’s 97 LTV product, the FHA/VA continues to dominate low downpayment lending.
During the worst of the buyback storm in late 2012 and early 2013, the GSEs reported over $18.51 billion of unresolved repurchase requests and as much as $13.22 billion in buybacks during a single quarter.
The refinance market was soft as well. The agencies securitized $37.48 billion of refinance loans during November, down 12.3 percent from the previous month.