Fannie Mae

A White House-backed effort to free mortgage giants Fannie Mae and Freddie Mac from government control has been cast into doubt by former Vice President Joe Biden’s victory over President Trump.

Mortgage rates are currently the lowest in the history of Freddie Mac’s survey, but sharp differences of opinion persist on whether that will make this a $4-trillion year or not.

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.

The forbearance rate improved to the a level not seen since early April, but getting back to pre-COVID levels will require employment gains or additional government stimulus measures, according to the Mortgage Bankers Association.

But both fell short under the Duty to Serve goals in rural housing.

Also: Fannie Mae announces imminent implementation of hedge accounting.

The upcoming shift may help to prepare the government-sponsored enterprise for a conservatorship exit by reducing interest-rate volatility in Fannie’s earnings.

A booming housing market contrasts with a slow-to-improve job market, making for lopsided improvement in the number of troubled mortgages, according to numbers from the Mortgage Bankers Association.

Existing-home sales reach 14-year high as bidding wars increase across the country.

To continue providing liquidity for lenders, Fannie Mae lengthened the period in which it would continue the purchase of forborne mortgages and pools of mortgage-backed securities into 2021.