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Inside The GSEs

July 21, 2023

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Larger GSE Servicers Continue to Build Market Share

Chase Home Finance solidified its position as the largest GSE servicer in the second quarter while the servicing portfolio at second-ranked Wells Fargo continued to shrink. Read More

FHFA Asks Court to Disregard Statements by Watt and Calabria

The conservator of Fannie and Freddie argued that the testimonies of two former FHFA directors were irrelevant because they were not at the agency when the Treasury Department agreed to the net worth sweep. Read More

FHFA Links Decline in Originations to DTI

Most of the drop-off in production hasn’t been because borrowers didn’t want to pay high interest rates, an analysis from FHFA showed. It’s because high interest rates have spiked DTI ratios, disqualifying borrowers for a mortgage. Read More

Lenders Can Limit Employee Access to Fannie Technology

Lenders are using Fannie’s IP Address Restrictions tool to limit their employees from accessing the GSE’s technology. Read More

Freddie Touts Impact of Single-Family Green Bonds

The inclusion of new-built homes with high energy efficiency ratings in Freddie’s green bond program significantly boosted the program’s impact. Read More

Fannie Provides Guidance on How to Avoid Fraud

Some 62% of mortgage fraud incidents involve the misrepresentation of income and employment, while 33% involve the understating of borrower liabilities, a Fannie survey showed. Read More

Chatbots and AI Dominate FHFA’s TechSprint

The big winner was the Finovation team, which floated the idea of creating an industry cooperative similar to the Mortgage Electronic Registration System. Read More

Hitch in LIBOR Transition for Some Fannie CMOs

Fannie said the LIBOR transition for 25 legacy CMOs resulted in one version of SOFR for the CMO itself and another version of SOFR for the related derivatives. This could result in payment mismatches. Read More

FHLB Reshuffles Office of Finance Board

New Chair Joel Motley replaces Jonathan Scott, who has retired after 19 years at the helm. Read More

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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