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Inside The GSEs

January 22, 2021

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Nonbanks Take Lead in GSE Servicing Market in 4Q20

A number of top nonbank servicers saw significant increases in their Fannie/Freddie servicing portfolios, while most big banks saw declines. The GSE market continued to fragment. (Includes two data charts.) Read More

Industry Unimpressed by Last Minute PSPA Change

The amended preferred stock purchase agreement provides Treasury with a liquidation preference, which undermines the GSEs’ ability to afford an exit from conservatorship. Read More

Battle Lines Drawn on FHFA’s New Product Rule

Mortgage insurers have endorsed the proposed guidelines, even arguing the process should be made more transparent and objective. However, Quicken believes it will stifle innovation by the GSEs. Read More

FHFA Asleep at the Wheel? The OIG Thinks So

Four and a half years after the OIG recommended that FHFA notify GSE directors of supervisory concerns, the agency continues to notify Fannie and Freddie management instead. Read More

FHFA Seeks Input on Risks From Climate Change

The FHFA is looking for stakeholder views on the risks faced by the GSEs and the supervisory and regulatory framework necessary to meet these challenges. Read More

Fannie, Freddie Multifamily Volumes Ratchet Up in 2020

Fannie financed $76 billion through its Delegated Underwriting and Servicing program, while Freddie pumped out $82.5 billion in loan purchases and guarantees. Read More

Freddie Offers a New Twist on CRT

Freddie’s multifamily structured credit risk notes are structured on actual losses. Previous issuances were based on a fixed-severity formula, which created a gap between when losses were booked and reimbursed. Read More

Fannie Taps Board Member for Chief Risk Officer

Ryan Zanin shifts from the boardroom to the C-Suite. Read More

Home Point Picks Former Fannie Executive as Board Chair

Andrew Bon Salle, a former long-time Fannie Mae executive, is joining the nonbank just in time for its IPO. Read More

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