ICBA commended the Federal Housing Finance Agency for ending
its pilot program that enabled Fannie Mae and Freddie Mac to finance mortgage-servicing rights for certain mortgage servicers.
The pilot began in 2018 to provide financing to non-bank servicers, with Freddie Mac choosing to participate.
ICBA wrote in a May 2018 letter to the FHFA
that providing a credit facility for servicers that cannot access other sources of financing and operating lines from commercial banks is outside the mission of the government-sponsored enterprises and puts them and taxpayers at risk.
Read ICBA Release