GSEs

The agency issued a proposal moving the compliance date for the Qualified Mortgage rule revamp to October 2022.

Major secondary market players have been testing Fincity’s technology, which is in the final approvals stage with Fannie Mae and Freddie Mac.

The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.

The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.

Independent mortgage banker recovery drove the weekly decrease in forbearance share, according to the Mortgage Bankers Association.

Moratorium extensions helped drive a weekly increase in forbearances, according to Black Knight.

The Federal Housing Finance Agency's recent allowance of a 3-month extension of CARES Act forbearances stands to upend the trend in plan exits.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

Meanwhile at Essent, more loans exited the inventory in January than in December.

The uptick marks only the third increase in consecutive weeks since reaching a peak in May, according to Black Knight.

The former president and CEO of GE Capital’s restructuring and strategic ventures group was named executive vice president and chief risk officer soon after the departure of Fannie EVP Andrew Bon Salle.

The uptick follows the pandemic-era trend of midmonth increases in active plans, according to Black Knight.

The Biden administration could encourage the FHFA to increase the caps or restore exclusions for certain types of loans, which would boost overall volumes.

In a request for information, the agency sought feedback on how it should prioritize climate risks as part of its supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

Pricing parity is a big hit with lenders, but the MBA questions retaining certain limits on what Fannie and Freddie can purchase.

The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear whether the incoming Biden administration will keep the mortgage giants on the same reform path.

Changes in rules related to repayment options and refinancing criteria have complicated servicers’ lives, but otherwise this crisis hasn’t been as bad as that of 2008, a Fannie Mae survey finds.

President-elect Joe Biden’s team has held preliminary talks on how it could oust Fannie Mae and Freddie Mac’s regulator, a move that would let the new administration fill a post that’s crucial to the mortgage market and its goal of boosting affordable housing.

For some, including National MI and Essent, the improvement is taking place faster than expected.

A slowdown in the increase of loans exiting forbearance “implies that those who were able to absorb the shock of the pandemic and get back on their feet, may have already done so,” said Andy Walden, Black Knight economist.