CHLA details IMB priorities for a Fannie-Freddie public offering
The
Community
Home
Lenders
of
America
(CHLA)
began
circulating
an
independent
mortgage
bank
(IMB)
sign-on
letter
on
Wednesday.
The
document
outlines
key
policy
recommendations
for
a
potential exit
from
conservatorship
by
Fannie
Mae
and
Freddie
Mac, which
would
protect
IMBs
and
smaller
lenders
in
particular.
CHLA
is
inviting
all
IMBs
to
sign
on
to
the
letter
by
completing
a
form
on
its
website.
The
letter,
also
available
on
the
site,
is
dated
to
be
sent
on
Sept.
6,
2025,
to
Federal
Housing
Finance
Agency
(FHFA)
Director
Bill
Pulte
and
Treasury
Secretary
Scott
Bessent.
“We
write
as
independent
mortgage
banks
(IMBs)
—
non-bank
mortgage
loan
originators
—
to
identify
essential
elements
of
a
Fannie
Mae
and
Freddie
Mac
exit
from
conservatorship,”
the
letter
stated.
“We
do
so
in
the
wake
of
reports
that
the
Trump
Administration
plans
a
public
offering
of
these
two
entities
later
this
year.”
The
letter
lists
the
following
five
recommendations:
-
Guarantee
fee
parity
and
a
competitive
cash
window -
No
Wall
Street
bank
charters
for
government-sponsored
enterprise
(GSE)
loans -
Keep
Fannie
and
Freddie
separate
under
a
utility
model -
GSEs
should
maintain
critical
mortgage
products -
GSEs
should
purchase
mortgage-backed
securities
to
lower
mortgage
rates
In
October
2020,
CHLA
led
a
similar
IMB
sign-on
letter
urging
regulators
to
make
the
then-informal
g-fee
parity
policy
a
permanent
requirement.
Within
three
months,
the
Trump
administration
formalized
the
policy,
adding
robust
g-fee
parity
language
and
a
cash
window
to
the
Preferred
Stock
Purchase
Agreements
(PSPAs).
