Fannie Mae and Freddie Mac ensure two skills: underwriting and a highly skilled hedging operation that could maneuver adeptly as interest rates changed. If this is taken away and the government backs leaves, no system of private capital is going to continue making 30-year mortgage loans, at least that is what Joe Nocera argued in a column with The New York Times.
Killing Fannie, Freddie kills the 30-year mortgage
GSEs offer irreplaceable skills
Most Popular Articles
Latest Articles
Pennymac posts first-quarter profit of $39M
Loan production income shrank in the first quarter, but the company’s servicing business continues to grow
-
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products