Fannie Mae

Both refinancings and purchases will be stronger than what Fannie Mae had previously forecast.

Interest rates jumped from a new record low, while Fannie Mae and Freddie Mac were widely panned for imposing a refinance fee.

The FHFA director’s move this week to impose an “adverse market fee” of 0.5% on most refinanced mortgages will shift billions out of the hands of American consumers and into the hands of Fannie Mae and Freddie Mac — and their private shareholders.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

A survey conducted throughout the second quarter found knowledge gaps based on race and income.

In a letter to the Consumer Financial Protection Bureau, the Mortgage Bankers Association recommended adding six more months to the latest GSE patch proposal.

The number of loans going into coronavirus-related forbearance was down for the eighth consecutive week, as the growth rate fell 23 basis points between July 27 and August 2, according to the Mortgage Bankers Association.

Earnings reports out this week beat pessimistic expectations, but strained coronavirus relief negotiations in Congress cloud the outlook for what's ahead.

With infections resurging, consumer confidence in the housing market hit a snag in July, but sellers are feeling better about their prospects, according to Fannie Mae.

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.