By Michael Stegman, a senior research fellow at the Joint Center for Housing Studies of Harvard University, and Richard Cooperstein, leader of the Model Risk Management at Andrew Davidson & Co.

Over the years, with the approval of their regulator/conservator, the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the GSEs) put in place an opaque system of cross-subsidies that has enabled them to fund their statutory affordable lending obligations without direct aid from Congress.

The U.S. Department of Veterans Affairs has refunded more than $400 million to veterans who may have overpaid on their VA home loans. So reports the Military Times.

In today’s ultra-competitive sales environment, originators are challenged more than ever with the task of getting prospects to listen.