Fannie Mae is marketing a credit risk transfer transaction — sized at $528.24 million with a reference pool of $18.53 billion — after pricing a similar deal in August. Before that, Fannie hadn’t been in the market with a single-family CRT deal since April.
At PNC Bank, repurchases increased from $6.25 million in the first quarter to $22.58 million. The shift looks to be tied to reporting quirks rather than a major concern for the bank.
Industry trade groups applauded last week’s directive that Fannie Mae and Freddie Mac approve all lenders to use VantageScore 4.0 effective immediately, calling it an important step toward boosting competition and lowering costs for borrowers.
The VA improperly assessed the past work of an automated appraisal management service it contracted with, crediting it with work done by government employees and failing to document the relevancy of the reports to the contract at hand, the GAO says.