Secondary markets

Fannie Mae and Freddie Mac are now able to buy loans in forbearance to alleviate pressure on the sector, but the fees charged by the mortgage giants to assume more risk could turn away some originators.

Ginnie Mae will begin taking requests for assistance from issuers who, having exhausted all other options, are having trouble advancing borrowers' principal-and-interest payments to investors amid the pandemic.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

Freddie Mac elevated Corley to executive vice president and head of its single-family business, putting her permanently in the role she occupied since last October.

Loan limits for most mortgages Fannie Mae and Freddie Mac buy will exceed $500,000 for the first time ever next year, and the maximum for most high-cost areas will be $765,000.

A mortgage industry executive with ties to a firm penalized in a U.S. predatory lending crackdown is being considered by the Trump administration to run Ginnie Mae, according to people familiar with the matter.

Prepayments tied to repeated VA loan refinancing activity have had an adverse effect on Ginnie’s mortgage securities that persists despite countermeasures. The government bond issuer is making new plans to address the impact.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.

The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.

The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.

Despite an overall weak mortgage originations market, Flagstar Bancorp's third-quarter earnings grew 20%, due in large part to its ongoing efforts to diversify operations.

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The French banking giant will lower its stake in First Hawaiian below 20% when the secondary offering is completed.

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

Fannie Mae and Freddie Mac enjoy considerable advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete.

Capital One Financial Corp. plans to repurchase shares following the sale of $17 billion in mortgages to a Credit Suisse subsidiary.

Fannie Mae's first-quarter profits were enough for it to rebuild its minimum capital buffer and pay the Treasury Department dividend after being forced to take a draw during the previous fiscal period.