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Bloomberg: FHFA set to ease apartment loan limits for GSEs

  • The FHFA in January set a $30M annual cap on the amount of apartment mortgages Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC +0.4%) could back, but - with that limit set to be hit in Q3 - the agency is set to loosen that restriction, according to Bloomberg.
  • Without such a move, the two would have to begin cutting back on business - raising costs and limiting access for borrowers. Already, the two have been raising interest rates to try and slow the pace of activity.
  • Among the options for the FHFA would be simply raising the caps (sounds too simple). Also being considered would be broadening certain criteria to make more mortgages exempt from the limit.
  • Walker & Dunlop (WD +18.4%) is sharply higher on the session after reporting a big Q1, but surely won't mind hearing this news. Other commercial loan originators like HFF (NYSE:HF), iStar Financial (NYSE:STAR), and Ladder Capital (NYSE:LADR) may have interest as well.
  • Previously: Walker & Dunlop +7.2%: "The wave has hit" (May 6)

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Federal National Mortgage Association