Browsing: GSEs

Mortgage

While noting that the Federal Housing Finance Agency’s re-proposed regulatory capital framework for Fannie Mae and Freddie Mac addresses concerns raised by ABA about the original 2018 proposal, the association today said the May re-proposal “raises concerns of its own, particularly with regard to the implications for the primary market and our members’ continued ability to sell loans to the GSEs in the revised GSE marketplace implied by the re-proposal.”

Mortgage

A group of Democratic senators today wrote to FHFA Director Mark Calabria raising concerns about a recent announcement that Fannie Mae and Freddie Mac will impose an “adverse market refinance fee” of 50 basis points for no-cash-out and cash-out refinance mortgages—a move strongly criticized by ABA and several other financial trade associations last week.  

Mortgage

ABA yesterday welcomed the Consumer Financial Protection Bureau’s proposal to extend the temporary “GSE patch”—which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Me or Freddie Mac—until the bureau’s proposed QM rule changes are finalized and take effect.

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