Vice Capital Markets has integrated Fannie Mae’s new Loan Pricing application programming interface into its portal. The new interface is designed to simplify loan pricing by providing a complete set of options directly from Fannie Mae, including base prices, service release premiums, and national LLPAs. Any internal pricing adjusters are also included. “The Loan Pricing…
Donald Trump will be sworn in for a second time today, and the mortgage industry is anxiously waiting to see how homebuyers and sellers will respond to his administration. “We will eliminate regulations that drive up housing costs, with the goal of cutting the cost of a new home in half,” he said in a…
Consumers were feeling a little better about the housing market in October, but remain pessimistic overall. Only 20% of consumers believe it’s a good time to purchase a home, according to Fannie Mae’s Home Purchase Sentiment Index. The October HPSI increased by 0.7 points to 74.6, its highest level since February 2022 and a decent…
Former PNC exec Diana Reid has been selected by Freddie Mac’s Board of Directors to serve as the company’s new CEO. “It is an honor to join Freddie Mac and lead the company as it carries out its vital role in the housing finance market,” Reid said. “I look forward to working with the Board,…
Multifamily properties financed by Fannie Mae and Freddie Mac must adhere to new tenant protections announced by the Federal Housing Finance Agency. Housing providers must now provide tenants with 30-day written notices of rent increases and lease expiration, plus a 5-day grace period for rent payments. This is the first time tenant protections will be…
Fannie Mae’s Q1 earnings fell short of expectations, but the GSE turned a profit last quarter. The mortgage giant reported $4.3 billion in net income for Q1 2024, up from $3.9 billion in Q4 2023 but lower than analysts expected. Its overall revenue was $7.1 billion, a sturdy sum but lower than expectations of $7.68…
Fannie Mae announced enhancements to its Desktop Underwriter that will streamline originations for lenders and buyers. The new capability automates the validation of borrowers’ assets, income, and employment and produces a 12-month report. Bank statements, information about assets, and other data from third-party vendors become available in just one step. The report can then also…
Mortgage rates increased slightly last week but remain in the mid-6s, encouraging some potential buyers to come off the sidelines. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.66%, up from the week prior’s 6.62%. A year ago at this time, the 30-year FRM averaged 6.33%. This is the second consecutive…
Two high-level execs at Fannie Mae will retire in the next twelve months, leading to leadership changes, officials at the GSE announced. Fannie Mae President David C. Benson is retiring in 2024, while Chief Administrative Officer Jeffery Hayward will step down at the end of this year. “We’re deeply grateful to both Dave and Jeff for their…
As inflation slowly cools, consumers are feeling a lot more secure in their personal finances. But when it comes to homebuying, they’re still in the dumps. Leaders at Fannie Mae said the Home Purchase Sentiment Index increased by 4 points YOY in July as consumers responded positively to the job security and mortgage rate components….
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