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News Release

FHFA Announces End of Mortgage Servicing Rights Financing Pilot Program

FOR IMMEDIATE RELEASE
9/18/2019

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the end of the Mortgage Servicing Rights (MSR) financing pilot program for Fannie Mae and Freddie Mac (the Enterprises).  The MSR pilot began in 2018 to provide financing to non-bank servicers as they continue to account for a growing percentage of the Enterprises' overall servicing portfolio.  While both Enterprises were approved for the MSR pilot, only Freddie Mac chose to participate.

FHFA Director Mark Calabria cited several reasons for ending the MSR pilot.  “The MSR market is already served by a wide assortment of highly competitive private sources of capital and financing.  Going forward, the Enterprises should focus on activities that are core to the guaranty business, mitigate risk, and are essential to end the conservatorships," said Calabria. 

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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.3 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter, @FHFA, YouTube, Facebook, and LinkedIn.
Contacts:

Media: Stefanie Johnson (202) 649-3030

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