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Volume 18 - Number 12

June 8, 2018

GSE Pilot Programs Drawing More Attention for Lack of Transparency

Industry groups and lawmakers have turned their attention to the GSEs’ pilot programs and how they’re being implemented. Many argue that as of late, pilot programs such as recent initiatives involving mortgage insurance and home rentals are being launched without much transparency. This week, the Mortgage Bankers Association penned a letter to the Federal Housing Finance Agency recommending the regulator increase the level of transparency for new products and activities the GSEs take on. The trade group noted it’s concern about new initiatives which raised “significant” questions as whether they have the public’s best interest in mind. There’s also some unease about Fannie Mae and Freddie Mac possibly infringing on the primary market.

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%