Secondary

The guidelines are somewhat similar to those the Federal Housing Finance Agency established for the government-sponsored enterprise market in response to the high number of loans impacted by coronavirus-related hardships.

The GSEs began sharing their risk with the private market in new ways during conservatorship, and the Federal Housing Finance Agency’s proposed capital framework currently discourages the use of those strategies. Industry leaders voiced concerns in a FHFA listening session this week.

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

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

Uncertainties in the job market drove mortgage credit availability down again, falling to the lowest point since March 2014, according to the Mortgage Bankers Association.

Mortgage rates fell 7 basis points this week to yet another record low in the 49-year history of the Freddie Mac Primary Mortgage Market Survey, as stock market indicators sank during the period.

Some of the cures were the result of short-term remedies and could reverse as relief measures end.

The Federal Housing Finance Agency's proposal could undermine the companies’ mission to support the housing market and penalize consumers in underserved communities, industry and consumer groups say.

Today there are 1 million fewer Americans in forbearance than there were at the peak in May, according to Black Knight.

Nearly half of the second-quarter volume came from its existing customers.