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Inside The GSEs

November 18, 2022

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Higher Interest Rates Juice FHLBanks’ 3Q22 Earnings

Systemwide, FHLBank advances grew 36.5% in the third quarter, helping drive a 51.1% sequential increase in profits. (Includes three data charts.) Read More

Lower Earnings Compound Capital Shortfalls at the GSEs

Sagging home prices forced the GSEs to post a combined $4.34 billion provision for credit losses in the third quarter, undercutting retained earnings. (Includes data chart.) Read More

FHFA Reduces Multifamily Caps as Market Contracts

The volume of multifamily loans the enterprises can purchase will be smaller in 2023, but the FHFA also expanded the mission-oriented qualifications. Read More

New LLPA Rules Kick In Next Month

Loan-level price adjustments for low-income and first-time borrowers and for loans that meet duty-to-serve requirements will be a thing of the past on Dec. 2. Read More

GSEs Introduce Two Systems to Disclose Socially Oriented Lending

The new social index methodology gives investors a rigorous, pool-based measure of the social impact of the mortgage-backed securities issued by the enterprises. Read More

G-Fees Outpace GSEs’ Rate-of-Return Target in 2021

The average g-fee charged on single-family loans in 2021 rose from 54 basis points to 56 bps. Much of the increase can be traced to 15-year fixed-rate refinances, which were subject to an extra adverse market fee. Read More

Freddie Will Issue No More STACR in 2022

The enterprise issued more credit-risk transfer deals this year than last. But increasing interest rates have made the deals less and less attractive for Freddie. Read More

Fannie Moves Public APIs to a New Home

The tools, which help automate access to Fannie data, had been housed on The Exchange platform. They will continue to be available, but via the enterprise's Developer Portal. Read More

Freddie Veteran Returns to the Fold

Ravi Shankar rejoins Freddie Mac after stints at both the Boston Consulting Group and United Wholesale Mortgage. Read More

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