Secondary markets

Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.

James Whitlinger, Freddie Mac single family chief financial officer, has served as the company's interim CFO since Christian Lown's departure at the end of June.

Freddie Mac shares rose to $4.14 at 12:30 p.m. in New York Friday, Fannie Mae's stock climbed to about $4.23, each up 22% from the previous day's close.

Lenders will need to lean on alternative products as limited mortgage rate relief keeps some consumers on the sidelines, but others will tire of waiting and act.

Nonagency issuances are expected to increase 85% for this year over 2023, and rise another 36% in 2025, the second best since the financial crisis.

Unlike some recent RMBS deals, both exclude riskier interest-only loans and those supporting investment properties.

The proposal is one of several that aims to address difficulties managing early buyouts from mortgage-backed securities pools.

But the Federal Housing Administration program was the only mortgage loan type to gain market share month-to-month as measured by rate lock percentage.

Valverde, who has a wide range of experience in capital markets and housing finance, will join the government-sponsored enterprise's single-family unit.

The average cost for a loan seller to buy back a mortgage from Fannie Mae or Freddie Mac for defects is over $32,000, a study from Reggora and Stratmor found.