What a year! We started relatively strong, coming off the best year ever in terms of originations. But as we all know, interest rates doubled over the course of the year causing a precipitous drop in volume, which in turn stalled the real estate market.
BACKGROUND: On January 14, 2021, the Treasury Department and the Federal Housing Finance Agency (FHFA) amended the GSE’s Senior Preferred Stock Purchase Agreements (SPSPAs), which shape the terms in which Treasury supports Fannie Mae and Freddie Mac. This analysis looks at how the caps on the GSE’s “Acquisition of Certain Loans” can disproportionately impact homebuyers. […]
