GSEs

Short Takes: GSEs to Increase MBS Purchases / Nada Enters Into Forward-Flow Deal for HEI Originations / loanDepot Partners With Real Estate Brokerage

bivey@imfpubs.com — Mon, 21 Sep 2026 11:55:00 -0400

FHFA Director Bill Pulte's news that the GSEs are ramping up acquisitions of agency MBS comes well ahead of usual notice of acquisition activity.

MBS Investors, Lenders Ponder GSE Score Disclosures

dhollier@imfpubs.com — Fri, 18 Sep 2026 11:57:00 -0400

The GSEs’ scores appear to be higher than Classic FICO scores.

Purchase Mortgages Push Up Agency MBS in August

jbancroft@imfpubs.com — Thu, 17 Sep 2026 11:58:00 -0400

Issuance of agency mortgage-backed securities increased by 4.6% on a monthly basis to $115.92 billion in August.

Pulte Turns Focus to Private MI Profits

dhollier@imfpubs.com — Wed, 16 Sep 2026 11:57:00 -0400

Seth Appleton, president of USMI, promptly announced the PMI trade group’s support for Pulte’s efforts to align the GSEs’ policy regarding mortgage insurance.

Short Takes: Pennymac More Aggressive With Loan Limit for 2027 / Applications Tumble / Beyond Credit Union / CDFI Fund Pays Out, With Scrutiny / Aven Partners With NHL Team

bivey@imfpubs.com — Wed, 16 Sep 2026 11:55:00 -0400

Pennymac set a conforming loan limit of $850,000 for one-unit properties across the lender’s production channels.

GSEs’ MBS Holdings Down for Third Straight Month

dhollier@imfpubs.com — Tue, 15 Sep 2026 11:59:00 -0400

July marked the third straight month of declines in the government-sponsored enterprises’ MBS holdings.

GSEs Set LLPAs for VantageScore

dhollier@imfpubs.com — Thu, 10 Sep 2026 11:59:00 -0400

Fannie Mae and Freddie Mac are essentially subtracting 20 points from a VS4 score, then applying the Classic FICO LLPAs to the loan.

Short Takes: GSEs to Disclose 2 Credit Scores / UWM’s Latest Pricing Incentives / No Downgrades of Expanded-Credit MBS / Wealthfront Plans Lending Expansion

bivey@imfpubs.com — Thu, 10 Sep 2026 11:55:00 -0400

The GSEs will disclose scores from FICO and VantageScore for their mortgage-backed securities, credit risk transfer transactions and other securitization activity.

Fannie Back Quickly With CRT Offering Following August Issuance

bivey@imfpubs.com — Wed, 09 Sep 2026 11:56:00 -0400

Freddie Mac, meanwhile, hasn’t offered a single-family CRT deal since May.

Employee Morale Takes Hit at Fannie Mae Following Layoffs

dhollier@imfpubs.com — Tue, 08 Sep 2026 11:58:00 -0400

The firing of 10 senior executives at the government-sponsored enterprise in August rattled leaders and staffers.

Pulte Orders VS4 Rollout, Considers Bi-Merge for GSEs

bivey@imfpubs.com — Fri, 04 Sep 2026 11:59:00 -0400

FHFA Director Bill Pulte cited massive price hikes on FICO scores in recent years as the reason for making VS4 widely available through the GSEs.

Short Takes: Pulte Frustrated by Credit Bureaus / Interest Rates Rise to Highest Level Thus Far in 2026 / Better Rejects Garg’s Turnaround Plan

bivey@imfpubs.com — Fri, 04 Sep 2026 11:55:00 -0400

FHFA director Bill Pulte expressed frustration that the credit bureaus haven’t sufficiently engaged in reform talks with FHFA, accusing them of “cartel-like” behavior.

Oksenholt Defends Single Holding Company for GSEs, Tech

dhollier@imfpubs.com — Thu, 03 Sep 2026 11:59:00 -0400

Although investors would own just one listed security, Fannie and Freddie “could maintain separate underwriting, pricing, credit and customer service decisions,” according to Jon Oksenholt, the eponymous founder of Oksenholt Capital Management.

Private Mortgage Insurance Companies Set for VantageScore Usage

dhollier@imfpubs.com — Thu, 03 Sep 2026 11:57:00 -0400

Private MIs are fully prepared for the credit score transition at the GSEs, according to Seth Appleton, president of U.S. Mortgage Insurers.

Ishbia Expects Changes Around Edges for GSE LLPAs, TRID

bivey@imfpubs.com — Wed, 02 Sep 2026 11:56:00 -0400

Ishbia said it’s unlikely that changes to LLPAs will be “massive” or across the board.

GSEs Increase Issuance of Supers in Second Quarter

nbhatia@imfpubs.com — Tue, 01 Sep 2026 11:59:00 -0400

Freddie Supers issuance was up 52.7% from the first quarter to $83.03 billion, while Fannie recorded a 0.3% increase.

GSE Condo Rule Update May Drive More Non-QM Production

azimmardi@imfpubs.com — Tue, 01 Sep 2026 11:56:00 -0400

Stricter condo lending standards at Fannie Mae and Freddie Mac could drive some borrowers to the non-agency market.

Short Takes: Frater Shuns Garg / reAlpha CEO Takes Leadership Role at BAC / Stewart Acquires Two Companies

bivey@imfpubs.com — Tue, 01 Sep 2026 11:55:00 -0400

Former CEO of Fannie Mae said he'll resign from Better's board if former CEO returns; BAC appoints Jamie Cavanaugh as CEO; Stewart goes on acquisition spree.

Federal Agencies Rescind SPCP Authorization

dhollier@imfpubs.com — Fri, 28 Aug 2026 11:59:36 -0400

Federal Housing Finance Agency Director Bill Pulte directed Fannie Mae and Freddie Mac to end support for special purpose credit programs earlier this year. But now other agencies are also ending authorization for the programs.

Economists Trim Estimates for Mortgage Originations

jdohnert@imfpubs.com — Thu, 27 Aug 2026 11:52:58 -0400

Market uncertainty and rising costs have led some economists to revise their origination forecast for the rest of this year and into 2027.

Refi Decline Dents GSE Single-Family Business in July

dhollier@imfpubs.com — Wed, 26 Aug 2026 12:00:00 -0400

Fannie Mae and Freddie Mac issued a combined $59.84 billion of MBS in July.

Freddie Readies Servicers for Default Reporting Updates

dhollier@imfpubs.com — Wed, 26 Aug 2026 11:58:00 -0400

Freddie offered a series of updates on its new default reporting protocol in a recent bulletin to servicers.

Industry Groups Raise Concerns as New Condo Rules Go Into Effect

dhollier@imfpubs.com — Mon, 24 Aug 2026 11:57:00 -0400

Industry groups — including the Community Associations Institute, the Community Home Lenders of America and the National Association of Realtors — made their displeasure about the change to condo loan applications known in a recent joint letter to Federal Housing Finance Agency Director Bill Pulte.

Short Takes: NYSE Notifies loanDepot of Noncompliance / reAlpha Closes InstaMortgage Deal / Home-Purchase Cancellations Rise / Two Harbors, CCM Merger Receives Regulatory Approval

jdohnert@imfpubs.com — Mon, 24 Aug 2026 11:55:00 -0400

loanDepot's closing price for its stock was less than $1.00 per share over a consecutive 30 trading-day period.

Short Takes: FHFA Still Pondering LLPA Changes / Evolve Bank Sells Medical Professional Loans / Blend Touts AI Results

bivey@imfpubs.com — Fri, 21 Aug 2026 11:55:00 -0400

FHFA could soon revise loan level price adjustments at the GSEs.

GSE Jumbo Activity Up in 2Q, Investment Property Volume Down

azimmardi@imfpubs.com — Thu, 20 Aug 2026 11:59:00 -0400

Securitization of conforming jumbos increased at a faster rate than total GSE business in the second quarter.

Short Takes: Fannie Selling NPLs / Freedom Offers MSR Securitization / Purchase Applications Decline / Unemployment Driving Up Delinquencies

bivey@imfpubs.com — Thu, 20 Aug 2026 11:55:00 -0400

The GSE is selling two pools of nonperforming loans, its first NPL offerings in more than a year.

GSE CRT Issuance Drops in Second Quarter

bivey@imfpubs.com — Tue, 18 Aug 2026 11:59:00 -0400

Spreads on the second-quarter issuance widened significantly compared with the prior deals issued by the GSEs.

MGIC Tops Private MI Providers in Second Quarter

ewilley@imfpubs.com — Fri, 14 Aug 2026 11:59:00 -0400

MGIC had $17.75 billion in new insurance written in the second quarter, a 23.0% increase from the first quarter.

Mortgage Delinquencies Let Up in 2Q, Still Above 2025 Levels

bivey@imfpubs.com — Fri, 14 Aug 2026 11:58:00 -0400

FHA mortgages continued to show the worst performance.