FHFA seeks comment on proposed GSE offerings

The Federal Housing Finance Agency is seeking feedback on proposed new product offerings from Freddie Mac. Freddie’s offering would involve the purchase of certain single-family closed-end second mortgages as an alternative for homeowners to access equity. Freddie Mac’s new offering would allow for the purchase of closed-end second mortgages for properties where it already holds the first mortgage.

ICBA has continued to stress that the FHFA’s focus should be on preparing the government-sponsored enterprises to exit conservatorship rather than diverting funds to launch a new product. ICBA plans to take up the issue with the Housing Committee and submit a comment letter on the proposal.