GSEs

Matthew Perez of FICS explains why mortgage servicers need to embrace non-English-language support now.

A rise in mortgage rates over the past year and inflationary concerns have constrained the purchasing power of prospective buyers, resulting in home price declines of the past two quarters.

Doug Duncan, Fannie Mae’s SVP and Chief Economist, noted that “respondents continue to cite high home prices and unfavorable mortgage rates as the primary reasons for their pessimism.”

The 2023 Scorecard builds on the progress made by the GSEs in 2022 to strengthen capital position while advancing equitable and sustainable access to homeownership and rental housing nationwide.

The latest OCC Mortgage Metrics Report found that 97.2% of mortgages included in the report were current and performing at the end of Q3 2022. Click through to learn how this compares to last year’s metrics.

In establishing replacement rates for legacy LIBOR products, Fannie Mae has reached a key milestone necessary to prepare the mortgage marketplace for the end of LIBOR.

The FHFA reports that Fannie Mae and Freddie Mac sold 155,034 non-performing loans with a total unpaid principal balance of $28.7 billion from the program’s inception in 2014 through June 30, 2022.

Government-sponsored enterprises Fannie Mae and Freddie Mac are now required to provide advance notice to the Federal Housing Finance Agency before offering new products.

The MBA reports the performance of serviced loans nationwide remained relatively flat in November, despite the forbearance rate for Ginnie Mae loans increasing for the fourth straight month.

The GSE’s Economic & Strategic Research Group predicts the economy will experience recessionary conditions starting during the first quarter of 2023. Here’s what else their latest forecast suggests.