Fannie Mae

The share of consumers worried about potential job loss spiked to its highest point in 12 months, leading to a downturn in outlook, according to Fannie Mae.

However, while the "market share" analysis is a useful check on the reasonableness of benchmark levels, it is impacted by any errors in the HMDA data, notes a former principal economist at the Federal Housing Finance Agency,

Despite a likely recession, researchers at the government-sponsored enterprise revised volume forecasts upward for both 2023 and 2024, while originators also entered the year expecting their business to improve.

The government-sponsored enterprise expects a "moderate recession" in the first half of 2023.

Freddie Mac previously announced a similar change set to go into effect for mortgages with settlement dates on or after March 7.

Fannie Mae has selected five organizations to share in a $5 million pilot program aimed at expanding and promoting affordable housing and Black homeownership.

Allowing Fannie Mae and Freddie Mac to buy these loans encourages consumers to purchase more expensive homes, the group said.

Scores will be assigned to all loan pools created since 2010, including future securitizations, and are expected to help investors determine the share of mortgages meeting specific characteristics.

Fannie Mae announced a pilot rollout of a new special-purpose credit program, while Freddie Mac said it is expediting review of similar new programs from lenders during the Mortgage Bankers Association conference this week.

Ramon Richards discusses Fannie's tech roadmap for 2023, retaining tech personnel, and relying on third party vendors