active long
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Catman speaks ...
Reminder, there is zero need for Congress to do anything in order for GSEs to exit conservatorship - Congress has already acted
— Mark Calabria (@MarkCalabria) March 4, 2024
Reminder, significant opposition to a GSE conservatorship exits comes from those on Wall Street who benefit from status quo - especially a belief that taxpayer remains on the hook
— Mark Calabria (@MarkCalabria) March 4, 2024
#fanniegate $fnma $fmcc @usnavycmdr
— MIA (@MIA95629998) March 2, 2024
BOOM! https://t.co/3vT4fNrr9k
$Federal $Home $Loan $Mortgage $Corp $Stock $Forecast
https://stockinvest.us/stock/FMCC
$Federal $Home $Loan $Mortgage $Corp $Stock Forecast
https://stockinvest.us/stock/FMCC
Gemini question on ending the Conservatorships by Joe Light
Gemini won't even attempt to make arguments for keeping the GSEs in conservatorship. Totally game for releasing them though pic.twitter.com/PgvJXuSEap
— Joe Light (@joelight) February 25, 2024
$fnmas/fmckj (Fannie and Freddie preferred). The companies have $125bn on the balance sheets and need ~$200bn to exit. $25bn annual earning power + bridge IPO and the exit from conservatorship is done in 12-18 months. Trump wrote a letter to Rand Paul about releasing the GSEs…
— Alec Mazo (@Alec_Mazo) March 2, 2024
Gemini question on ending the Conservatorships by Joe Light
Gemini won't even attempt to make arguments for keeping the GSEs in conservatorship. Totally game for releasing them though pic.twitter.com/PgvJXuSEap
— Joe Light (@joelight) February 25, 2024
$fnmas/fmckj (Fannie and Freddie preferred). The companies have $125bn on the balance sheets and need ~$200bn to exit. $25bn annual earning power + bridge IPO and the exit from conservatorship is done in 12-18 months. Trump wrote a letter to Rand Paul about releasing the GSEs…
— Alec Mazo (@Alec_Mazo) March 2, 2024
Long GSE preferreds. Don't know if they'd succeed at release, but that trade would wake up big time. Honestly it should be waking up right now
— Joe Light (@joelight) March 1, 2024
News Release - FHFA Announces Key Updates for Implementation of Enterprise Credit Score Requirements
Use of “bi-merge” credit reporting to occur simultaneously with implementation of new credit score model requirements
FOR IMMEDIATE RELEASE - 2/29/2024
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced updates to the implementation of new credit score requirements for single-family loans acquired by Fannie Mae and Freddie Mac (the Enterprises).
Following extensive stakeholder engagement and input, FHFA is aligning the implementation date of the bi-merge credit reporting requirement with the transition from the Classic FICO credit score model. This aligned transition is expected to occur in the fourth quarter of 2025.
To better support market participants with this transition, the Enterprises will accelerate the publication of VantageScore 4.0 historical data, originally expected to be published in the first quarter of 2025, to early in the third quarter of 2024. FHFA and the Enterprises continue to work towards providing similar data to support the transition to the FICO 10T model, contingent upon achieving the necessary conditions for acquisition and publication of this data. FHFA will provide further details on implementation timing for FICO 10T once this process is complete.
In recent public forums hosted by FHFA, stakeholders have emphasized the importance of this historical data to allow them to analyze the new models, as well as bi-merge credit reporting, and assess any changes they must make to their systems and models. Stakeholders have also shared perspectives on the efficiencies associated with aligning the option for bi-merge credit reporting with the transition from Classic FICO.
“Synchronizing bi-merge credit reporting with the implementation of the new credit score model requirements will reduce complexity for market participants, which is a key objective of our transition efforts,” said FHFA Director Sandra L. Thompson. “The release of historical data on tens of millions of Enterprise loan acquisitions affirms the commitment of FHFA and the Enterprises to a robust, transparent implementation process.”
In October 2022, FHFA announced the validation and approval of the FICO 10T and VantageScore 4.0 credit score models for use by the Enterprises, as well as the transition to a bi-merge credit reporting requirement. The new models are expected to increase accuracy in credit scoring while providing multiple views of credit risk for market participants. Under a bi-merge approach, credit reports from two, rather than three, of the nationwide consumer reporting agencies may be used, which is expected to promote more robust market competition. In March 2023, FHFA and the Enterprises initiated a public engagement process to solicit input on this initiative and gather information on how to ensure a smooth transition to the new credit score requirements. This engagement process was further expanded in September 2023, with additional opportunities for stakeholder input expected throughout 2024 and beyond.
FHFA and the Enterprises will continue to provide regular updates to assist market participants throughout this transition.
Related Resources
Biden administration to boost affordable housing programs,
supply of manufactured homes
Biden administration to boost affordable housing programs, supply of manufactured homes https://t.co/tXza7uduJp
— Cmdr Ron Luhmann (@usnavycmdr) February 29, 2024
Biden administration to boost affordable housing programs,
supply of manufactured homes
Biden administration to boost affordable housing programs, supply of manufactured homes https://t.co/tXza7uduJp
— Cmdr Ron Luhmann (@usnavycmdr) February 29, 2024
pre-mkt over 100,000 sh on "Both" Fannie @ $1.28 & Freddie @ $1.09 - $BID
..............
Expert Panel Upgrades Home Price Growth Outlook, Cites Supply Constraints and Lower Mortgage Rates
NEWS PROVIDED BY - Fannie Mae - 29 Feb, 2024, 08:30 ET
Panel of 100-Plus Experts Expects Mortgage Rates to End 2024 at Median of 6 Percent
WASHINGTON, Feb. 29, 2024 /PRNewswire/ -- A panel of housing experts expects annual national home price growth of 3.8% in 2024 and 3.4% in 2025, according to the Q1 2024 Fannie Mae (OTCQB: FNMA) Home Price Expectations Survey (HPES), produced in partnership with Pulsenomics, LLC. The HPES polls over 100 experts across the housing and mortgage industry and academia for forecasts of national home price percentage changes in each of the coming five calendar years, as measured by the Fannie Mae Home Price Index (FNM-HPI).
The panel's latest estimates of national home price growth are higher than last quarter's expectations of 2.4% for 2024 and 2.7% for 2025. Additionally, an increased share of panelists indicated higher upside risk to their home price forecasts – 41 percent in Q1 2024 compared to 26 percent in Q4 2023 – with a majority citing ongoing housing supply constraints and lower mortgage rates as the basis for that belief. The panel also projects a median 30-year fixed mortgage rate of 6% by the end of 2024. Complete results of the Q1 2024 survey can be found here.
"On average, our panelists continue to expect home price growth to decelerate this year, but their overall outlook was revised upward this quarter, with most now reporting greater upside risk to home prices than downside risk," said Hamilton Fout, Fannie Mae Vice President of Economics. "If mortgage rates move toward the panel-predicted six percent median rate by the end of 2024, we would expect this to be supportive of continued home price growth, particularly given the persistent supply-side challenges facing the housing market."
Terry Loebs, founder of Pulsenomics, added: "This is a positive outlook for those who already own a home, but as the dearth of listings boosts both prevailing values and expected future prices, the affordability concerns of prospective homebuyers are unlikely to fade soon."
To receive e-mail updates regarding future HPES updates and other economic and housing market research from Fannie Mae's Economic & Strategic Research Group, please click here.
Opinions, analyses, estimates, forecasts, and other views of Fannie Mae's Economic & Strategic Research (ESR) Group, Pulsenomics, LLC and the surveyed experts included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.
About Fannie Mae's Home Price Expectations Survey
Fannie Mae's Home Price Expectations Survey (HPES), produced in partnership with Pulsenomics, LLC, polls over 100 housing experts across the industry and academia for forecasts of national home price percentage changes in each of the coming five calendar years, with the Fannie Mae Home Price Index as the benchmark. On a quarterly basis, Fannie Mae plans to publish the latest panelist-level expectations, as well as a special topic report that includes respondent feedback on topical questions designed to help inform the broader housing industry. The Q1 2024 HPES had 114 respondents and was conducted by Pulsenomics, LLC between January 29, 2024 and February 9, 2024.
About the ESR Group
Fannie Mae's Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021.
News Release --- FHFA Announces New Staffing Updates --- FOR IMMEDIATE RELEASE - 2/28/2024
Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced two personnel updates.
Anne Marie Pippin has been selected to serve as the Deputy Director for the Division of Conservatorship, Oversight, and Readiness.
“With her extensive experience in mortgage finance, innovation, risk management, and corporate governance, Anne Marie's leadership has been exemplary in every way," said FHFA Director Sandra Thompson. “I look forward to her continued leadership in this role."
Anju Vajja, Ph.D., has been named Deputy Director for the Division of Research and Statistics.
“Anju's experience in overseeing the research, analysis, and data governance work of the Division of Research and Statistics, and its production of FHFA's House Price Index, National Mortgage Database, Uniform Appraisal Dataset, is a tremendous asset to DRS and the Agency."
About Anne Marie Pippin: Ms. Pippin has over 13 years of public sector experience in mortgage finance, innovation, risk management and controls, and corporate governance. She joined FHFA in 2017 and most recently served as Associate Director of the Office of Governance and Strategic Initiatives and Office of Financial Technology in DCOR. In this role she was responsible for leading and coordinating Agency efforts to understand technology-driven developments in housing finance, addressing emerging risks and advancing Agency priorities related to the responsible adoption and deployment of financial technology, as well as overseeing governance and strategic initiatives related to the conservatorship of the Enterprises (Fannie Mae and Freddie Mac).
Previously in FHFA, she served as Governance Branch Manager and as an Examiner within the Division of Enterprise Regulation with broad coverage of governance topics, including corporate governance, model governance, artificial intelligence and machine learning risk management, and enterprise-wide risk management. She co-wrote the FHFA Advisory Bulletin 2022-02, Artificial Intelligence and Machine Learning Risk Management, and wrote the FHFA Advisory Bulletin 2020-06, Enterprise Risk Management Program.
Prior to joining FHFA, Ms. Pippin served in various risk management and governance functions in the Department of Energy, Department of Defense, Department of the Interior, and National Oceanic and Atmospheric Administration. Ms. Pippin also served as an analyst on climate risk at the White House Council on Environmental Quality in 2012. Ms. Pippin is a graduate of the University of Georgia, where she holds a Juris Doctor (JD), Master of Business Administration (MBA), and undergraduate business degree.
About Anju Vajja: Vajja oversees the production of FHFA's House Price Index, National Mortgage Database (NMDB), Uniform Appraisal Dataset, and several other mortgage and housing data systems at FHFA. She is FHFA's Research Officer and is responsible for research in housing, mortgage markets, and real estate. She oversees FHFA's data governance and Climate and ESG coordination work. Vajja previously served as Principal Advisor to the Deputy Director and Principal Associate Director in DRS and Associate Director in FHFA's Division of Housing Mission and Goals (DHMG).
Prior to joining DHMG, Vajja served as Managing Economist in FHFA's Division of Bank Regulation (DBR), where she led a team of economists and financial analysts. She was responsible for targeted credit and collateral risk examinations to support the FHFA's examinations of the Federal Home Loan Banks (FHLBanks). While in DBR, Vajja also led a team of financial analysts who evaluated the financial condition and performance of the FHLBanks.
Prior to joining FHFA, Vajja worked at the World Bank evaluating community development initiatives. Vajja also taught at Georgetown University as an adjunct Professor. She earned her Ph.D. in economics from Georgetown University, her MA from Delhi School of Economics, and her BS in economics from Lady Sri Ram College, Delhi University, India.
$FMCC $FNMA 👇👇👇👇👇 https://t.co/l0taqbEbCy
— Patrick (@InvestIt3) February 27, 2024
$FNMA $FMCC Why Buffett's stock portfolio may include a secret holding from this sector. If $4 billion is still less than 5% of the total market cap, you would want to think about domestic financial companies 🤔 Shanahan said. There are not many of thosehttps://t.co/uLKlMVoHAf
— Patrick (@InvestIt3) February 27, 2024
Fannie Mae and Freddie Mac Support for Manufactured Housing
Category: FHFA Stats - Published: 2/27/2024
This blog discusses Fannie Mae and Freddie Mac acquisitions of mortgages secured by real estate titled manufactured homes, with a particular focus on the period since the introduction of the Duty to Serve program in 2018. Manufactured housing is one of the identified Duty to Serve underserved markets and overlaps with other Duty to Serve components, such as supporting the underserved rural housing market.
Introduction
Manufactured homes (MH) are factory-built, prefabricated dwellings, constructed according to the Manufactured Home Construction and Safety Standards administered by the Department of Housing and Urban Development (HUD Code).1 HUD Code compliant MH are exempt from local building codes. Local officials generally issue Certificates of Occupancy for new MH based only on inspections of MH’s foundations, anchoring, and utility connections.2 In addition, factory production yields construction costs that are much lower than what is typical of site-built homes.3 Although MH serves as an existing (and potential) source of affordable housing in many parts of the nation, its presence is strongest in rural and small-town communities where MH comprises 13 percent of occupied dwellings.4
The Housing and Economic Recovery Act of 2008 (HERA) established a duty for Fannie Mae and Freddie Mac (the Enterprises) to “increase liquidity and improve the availability of investment capital” for MH through the development of “loan products and flexible underwriting guidelines to facilitate a secondary market for mortgages on manufactured homes for very low-, low-, and moderate-income families.”5
The Federal Housing Finance Agency’s (FHFA) 2016 Enterprise Duty to Serve (DTS) Underserved Markets Regulation (DTS Regulation) addresses, among other things, Enterprise support for:
Financing of MH titled as real property (MHRP) (i.e., loans secured by both the home and the underlying land);
Financing of MH titled as personal property (MHPP) (i.e., loans secured only by the home, exclusive of the underlying land);
Financing of MH communities (MHCs) owned by a non-profit organization, governmental entity, or the residents; and
Financing of MHCs that provide, at a minimum. certain tenant pad lease protections.6
The DTS Regulation requires each Enterprise to adopt DTS Underserved Markets Plans (DTS Plans) that lay out target objectives and activities over a three-year term. FHFA reviews each proposed DTS Plan and, if satisfied, issues a non-objection (permission to proceed). FHFA also annually evaluates whether each Enterprise has accomplished its DTS Plan objectives and activities. The Enterprises adopted their first three-year DTS Plans in 2018 and are currently operating under Plans covering 2022-2024.7
Enterprise MHRP Loan Acquisitions
Since adopting their first DTS Plans in 2018, the Enterprises have focused on increasing their acquisitions of MHRP loans eligible for DTS credit. At present, the Enterprises only acquire MHRP loans and not MHPP loans.8 Freddie Mac’s current DTS Plan contemplates the possibility of purchasing between 1,500 and 2,500 MHPP loans in 2024, as a means of “gather(ing) additional information needed to build a sustainable product…”9
Total Enterprise MHRP loan acquisitions increased 141 percent between 2017 and 2021 (from 24,444 to 59,037) (Figure 1). Most of these acquisitions were rate-term refinances of MHRP loans, but Enterprise home-purchase MHRP loan acquisitions rose 79 percent over this period (from 14,900 to 26,700). The highest number of home-purchase MHRP loan acquisitions occurred in 2021. Of the 59,037 MHRP loans the Enterprises acquired in 2021,10 35,543 (60%) qualified for DTS credit based on borrower income.11
In 2022, rising interest rates significantly reduced rate-term refinancings and home-purchase loan originations across the entire mortgage market. As a result, Q4 2022 site-built home-purchase originations were 45 percent below Q4 2021 levels, according to one data provider.12 In contrast, the Enterprises’ 2022 home-purchase MHRP loan acquisitions fell only 10 percent (Figure 1).
??Figure 1. Manufact?ured Housing, Total Enterprise MHRP Loan Acquisitions,
by year (2017-2022) and Loan Purpose
Figure 1. Manufactured Housing, Total Enterprise MHRP Loan Acquisitions, by year (2017-2022) and Loan Purpose
Source:FHFA
MHRP loans made to borrowers below median income generally qualify for the underwriting flexibilities offered through Fannie Mae’s HomeReady13 and Freddie Mac’s Home Possible14 programs, which include lower down payment requirements (3 vs. 5 percent) and adjustable (vs. fixed) interest rates.15
The distribution of Enterprise MHRP loan acquisitions by borrower income closely resembles that seen in the overall mortgage market, especially for home purchase loans (see Figure 2). Enterprise MHRP loan acquisitions have a somewhat larger share of high-income MH borrowers (above 125 percent of area median income, 45 percent vs 39 percent), and slightly smaller shares in all other income classifications.16
?Figure 2. ?Manufactured Home Loan Borrower Income Distributions,
Home Purchase Loans (2018 – 2021),? Comparing the Enterprises to the Market?
Figure 2. Manufactured Home Loan Borrower Income Distributions, Home Purchase Loans (2018 – 2021), Comparing the Enterprises to the Market?
Source: Home Mortgage Disclosure Act (HMDA) reporting and FHFA. Income classes are relative to metropolitan area median incomes: Very Low (<= 50%), Low (51-80%), Moderate (81-100%), Middle (101-125%), and High (> 125%).?
Support for the MH Industry CrossMod® Home Initiative
Zoning by-laws, subdivision ordinances, and other land-use regulations exclude MH homes from most single-family neigh?borhoods.17 To better comply with single-family land use regulations, MH manufacturers introduced CrossMod® homes in 2019, a new class of MH that are affixed to permanent foundations and classified as real property, with comparable architectural, landscaping, site design, and energy efficiency features to site-built homes.18 In recognition of these unique attributes, Fannie Mae developed its MH Advantage19 program and Freddie Mac developed its CHOICEHome20 program.
These programs offer CrossMod® borrowers underwriting flexibilities not otherwise available to other MH borrowers. For example, Fannie Mae’s Selling Guide states that appraisal report comparable sales for MH Advantage homes can include no more than one standard MH home. Other comparable sales must be CrossMod® or site-built homes.21 Freddie Mac’s Selling Guide states that appraisal reports for CHOICEHome properties should contain at least one comparable CHOICEHome sale and, if no comparable CHOICEHome sales are available, the appraiser must use the most appropriate site-built homes as comparable sales.22
As CrossMod® homes tend to be at the higher end of the MH price range, incomes of many CrossMod® buyers exceed area medians. This means that CrossMod® MHRP loan acquisitions rarely qualify for DTS credit, but CrossMod® homes typically sell for all-in prices well below those of comparable site-built homes.23
Support for Single-Wide MHRP Loans
Borrowers with lower incomes tend to live in single-wide (single section) MH homes instead of larger, more expensive double-wide MH homes (two sections joined together).24 Most single-wide properties titled as MHRP are financed by specialty lenders affiliated with MH manufacturers. MH specialty lenders dominate the single-wide MHRP loan market in part because single-wide MHRP loan sizes often fall below the minimum principal balance requirements of conventional mortgage lenders,25 and some mortgage insurers will not insure single-wide MH.26 Frequently, MH specialty lenders make higher cost MHPP loans to owners of single-wide properties titled as MHRP even though these borrowers would likely be better served by MHRP loans.27 In 2021, the Enterprises began purchasing single-wide MHRP loans.28 This initiative should expand the number of conventional mortgage lenders willing to originate single-wide MHRP loans.
Support for New MH Construction
The Enterprises support new MH construction through the purchase of “construction-to-permanent” loans that fund the cost of the new MH, the underlying land, and associated transportation and installation costs.29?
Conclusion
MHRP loan acquisitions are a small but growing part of the Enterprises’ single-family business. The MHRP loans eligible for DTS credit are an important component of Enterprise support for very low-, low-, and moderate-income families.
GSE Conservatorship Not Expected to End Anytime Soon
Tuesday Feb 27, 2024 - jdohnert@imfpubs.com
The Federal Housing Finance Agency’s conservatorship
over Fannie Mae and Freddie Mac will not end unless something drastic
happens to the mortgage industry ecosystem, according to housing experts
speaking Monday at the Structured Finance Association’s SFVegas conference.
“I think the reason the end of the conservatorship didn’t happen is because
at the end of the day when a system works well enough, there is little incentive
to move away from it,” said Jaret Seiberg, a managing director at TD Cowen.
Matt Tomiak, a senior vice president at Bayview Asset Management, noted that
the government is absorbing much more mortgage credit risk than it did before
the financial crisis of 2008 and the conservatorship creates challenges to ensuring
proper funding for the government-sponsored enterprises.
However, he said that fixes to the system are unlikely due to
a lack of political appetite.
“Think back on the subprime crisis, everything was wrong in 2005 and 2006,”
Tomiak said. “It just wasn’t realized until later. The time you start fixing things
is before you have a problem as opposed to after, but I don’t know if there’s
ever the political appetite while it’s quote-unquote working.”
Freddie Mac shares upgraded on election speculation
(This article was generated with the support of AI)
Published Feb 26, 2024 08:51AM ET
https://www.investing.com/news/stock-market-news/freddie-mac-shares-upgraded-on-election-speculation-93CH-3315396
On Monday, Keefe, Bruyette & Woods raised its rating on Freddie Mac (OTC:FMCC (OTC:FMCC)) stock from Market Perform to Outperform, setting a new price target of $2.50, up from the previous $1.25. The firm anticipates the shares will outperform in the coming months, influenced by the dynamics of the forthcoming presidential election.
The upgrade reflects the firm's view that the stock has potential for significant gains, especially with the upcoming presidential election expected to be tightly contested.
The firm noted that during the Trump administration, both Fannie Mae and Freddie Mac's common and preferred shares traded at levels up to three times higher than current prices. In light of this, the firm suggests that a close election could lead to a substantial increase in share value as the market prices in the possibility of a change in the White House.
The new price target for Freddie Mac is based on the present value of normalized earnings and includes the assumption that the government will convert its senior preferred shares into common stock. Keefe, Bruyette & Woods explained that the adjusted price targets for Freddie Mac and Fannie Mae, which was also raised to $2.00, are founded on more optimistic assumptions. These include a higher conversion price for the Treasury's senior preferred shares.
Although the outlook remains uncertain, the firm believes the current market conditions and political climate could favor the stocks in the short term.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Porky Lamberth's blatant display of his BIASED disdain for being REVERSED
by ignoring the Plaintiff's request for "prompt approval" of Plan for Allocation
let alone the courtesy of even a reply from our 2/12/2024 filing request ...
pre-mkt trades ...
FMCC 1,00 shares @ $1.09 - BID X ASK now - 1.07 X 1.11
FNMA 10,800 shares @ $1.29 - BID X ASK now - 1.27 X 1.28 ...
a block of 226,432 shares on the FNMA - ASK @ 1.29 .....
they only talked about the PAST !
nothing about NOW ! or questions
about the conservatorship or what
should be done NOW ! - BS podcast
only to sell books 📚
must listen ! especially near end ...
MEDIA HIGHLIGHTS RADIO • FEBRUARY 25, 2024
https://www.cato.org/multimedia/media-highlights-radio/mark-calabria-discusses-current-housing-affordability-crisis-what
Mark A. Calabria discusses the current housing affordability crisis and what policymakers should do to address it, and the FHFA’s response to the COVID-19 pandemic on Moody’s Talks Inside Economics
? ? ... haven't heard this before
If you’re worried about the Cap One-Discover merger, wait until you hear about the secondary mortgage market
— Mark Calabria (@MarkCalabria) February 26, 2024
$KBW now $2.50 $Target for $GSEs ...
$FNMA -> $FMCC On Monday, Keefe, Bruyette & Woods raised its rating on Freddie Mac (OTC:FMCC (OTC:FMCC)) stock from Market Perform to Outperform, setting a new price target of $2.50, up from the previous $1.25. pic.twitter.com/Ddyb8E2oUr
— Patrick (@InvestIt3) February 26, 2024
GSE Servicers Face New Requirements on Property Insurance
dhollier@imfpubs.com
Fannie Mae recently updated the insurance requirements in its servicing guide
to clarify how servicers should monitor and verify property insurance coverage.
The notice came at the direction of the Federal Housing Finance Agency, so
servicers can expect a similar notice from Freddie Mac.
The main goal of Fannie’s update is to ensure servicers have policies and
procedures in place that require borrowers continuously maintain property
insurance. At the very least, that means the servicer must verify that the
selected insurer, the policy amount and the type of coverage all meet
Fannie’s requirements.
In addition, if the servicer receives notification that coverage has been
canceled, will not be renewed, will be reduced or will be modified in such
a way that it no longer meets Fannie’s requirements, the servicer must
obtain lender-placed replacement insurance for the property.
Fannie /Freddie SCOTUS Major Questions Doctrine - Govt Agencies are Losing
Major Questions Doctrine?
— MIA (@MIA95629998) February 26, 2024
Hmmm..... #fanniegate $fnma @usnavycmdr @GuidoPerei @TheBurgosGrp @divemate @MurphreeRon @JarndyceJ @koryzuck https://t.co/BxzYhenA5s
$KBW UPGRADE ! .
Raising our Price Targets $2.00 FNMA $2.50 FMCC ! ..
some attention on the UPGRADE from The Fly :-) https://t.co/30zEPEC11h
— Cmdr Ron Luhmann (@usnavycmdr) February 26, 2024
KBW upgrade $FNMA $FMCC on election upside pic.twitter.com/ABzafeKm5l
— Retail Investor (@Retail_Investin) February 26, 2024
$Boooom ! over 1 Mil volume 1st 15 mins + $Freddie closing the Gap
now $0.16 from the 20's .... ..
$KBW UPGRADE ! .
Raising our Price Targets $2.00 FNMA $2.50 FMCC ! ..
[/color]KBW upgrade $FNMA $FMCC on election upside pic.twitter.com/ABzafeKm5l
— Retail Investor (@Retail_Investin) February 26, 2024
$Freddie closing up on the gap - now $0.16