Fannie Mae

GSE mortgages in forbearance fell for the 17th straight week, spearheading the overall downtrend, according to the Mortgage Bankers Association.

Approximately 75% of the quarter-to-quarter growth came from multifamily mortgage originations.

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with systemic racism.

But the group is more conservative than Fannie Mae when it comes to interest rate movements over the next six quarters.

Remote, homeowner-assisted appraisals used amid the coronavirus could be a useful tool post-pandemic, in limited circumstances.

Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

Low rates, along with increased new and existing home sales activity drives the latest forecast.

After flattening over the three prior weeks, the number of loans going into coronavirus-related forbearance dove at a rate not seen since early August, according to the Mortgage Bankers Association.

That, along with continued high refinance volume over the next three months, keeps originators' profit forecasts elevated, Fannie Mae said.