GSE-102522

2022-10-25T16:56:16-04:00October 25th, 2022|4- GSE Activity Report|

The Great Unbundling

As we noted yesterday, FHFA has decided not only to unbundle second and high-dollar loans from its flat-fee paradigm, but now to do the same for about one in five conventional conforming purchase loans outside these categories.  Together with new cash-out refi fees, the agency is recrafting Fannie and Freddie into an express risk- and mission-pricing construct that alters the essence of the GSEs and thus of the market as a whole.

GSE-102522.pdf