Freddie Mac

Mortgage industry hiring and new job appointments for the week ending June 5.

Mortgage rates increased slightly this week as indicators point to an economic revival, including increased home sales activity, according to Freddie Mac.

Self-service portals fielded at least half of coronavirus-related forbearance-plan requests and made it possible to handle an influx at a challenging time, but the GSEs recommend circling back to borrowers.

The FHFA looks to shed light on the amount of funds Fannie and Freddie will need to hold for their risk-sharing deals.

The firm also predicts that the coronavirus pandemic will delay the GSEs' release from government control.

Coronavirus-related mortgages in forbearance grew 10 basis points between May 18 and May 24, according to the Mortgage Bankers Association.

Fannie Mae and Freddie Mac have different timelines for the switch.

Mortgage rates fell this week to the lowest level ever recorded by Freddie Mac, even as it appears the relationship to the benchmark 10-year Treasury yield has stabilized.

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

Coronavirus-related mortgages in forbearance grew 20 basis points between May 11 and May 17, according to the Mortgage Bankers Association.

Both Fannie Mae and Freddie Mac have relaunched existing websites to provide COVID-19 tools to borrowers and servicers.

Some observers wonder if proposed regulatory targets for Fannie Mae and Freddie Mac will stoke concerns about low shareholder returns. But others suggest those fears are unfounded.

Mortgage rates declined this past week, further continuing to help attract previously reluctant buyers back into the purchase market, according to Freddie Mac.

Not only is FHFA Director Mark Calabria preparing the GSEs to raise capital, but he must also help them decide just what they are selling to private investors in the way of equity returns and risk.

The much-anticipated proposal, which would not go into effect until after Fannie Mae and Freddie Mac are privatized, reflects Director Mark Calabria’s aggressive efforts to get the companies on a strong financial footing.

Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”

The Federal Housing Finance Agency clarified that borrowers with Fannie Mae- or Freddie Mac-backed mortgages who have entered into forbearance plans can be eligible for a refi or new purchase once they are considered “current” on their mortgage.

The two mortgage giants said they would begin the process of hiring outside firms to help raise capital that will be needed to exit conservatorship.

Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.

Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers' need to fulfill the forbearance requirements in the coronavirus rescue package.