Fannie Mae

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

Mortgage rates crept up this week, nearly reaching the 3% mark as lenders raised prices because of a new fee, although purchase activity remained solid, according to Freddie Mac.

Fannie Mae's new chief administrative officer position focuses on diversity, inclusion and affordable housing.

The number of loans going into coronavirus-related forbearance decreased for the ninth consecutive week, according to the Mortgage Bankers Association.

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.

For years, there has been an expectation that markets and governments would figure out how to provide enough incentives for homeowners to make energy efficiency upgrades and environmental improvements. It hasn't happened yet.

Rates are forecasted to remain at the current low levels for the rest of 2020, driving steady refinance volume.

The mortgage servicing rights package going up for bid adds to signs that the market for large offerings is becoming more active.

The number of loans going into coronavirus-related forbearance fell for the seventh straight week, but the Mortgage Bankers Association predicts the rate will increase if the number of coronavirus cases continues to rise.

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship.

The government-sponsored enterprise reported net earnings of $2.55 billion, up from $461 million in the first quarter.