The article discusses the recent comments about Fannie Mae and Freddie Mac's performance, highlighting the Trump administration's approach towards their removal from conservatorships. This transition is anticipated to reshape the government's involvement in the mortgage market, with insights from Treasury Secretary Scott Bessent linking conservatorship removal to lower mortgage rates. Fannie Mae has been scrutinizing multifamily mortgage fraud, introducing stricter guidelines and blacklisting certain stakeholders. The narrative also references the past issues surrounding loan buybacks in the single-family market, indicating a shift in GSE policies under the new leadership.
The Trump administration is widely expected to attempt the removal of Fannie and Freddie from their conservatorships, a complicated process that will result in questions about the government's role in the mortgage markets.
Treasury Secretary Scott Bessent has tied any exit from conservatorship to lower mortgage rates.
Fannie Mae in particular has been cracking down on mortgage fraud in the multifamily sector for the better part of a year, publishing updated guidelines to better identify mortgage fraud.
Pulte has not mentioned loan buybacks in the single-family space, a bugaboo for originators who regularly complained to Pulte's predecessor, that the GSEs were too aggressive.
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