On March 25, it was reported on social media that FHFA Director William Pulte signed an order terminating the Special Purpose Credit Programs (SPCPs) previously covered by Fannie Mae and Freddie Mac. The SPCPs provided financial support for down payments or closing costs. The FHFA stated their support for SPCPs was “inappropriate for regulated entities in conservatorship” and noted that Fannie Mae and Freddie Mac may comply with any contractual provisions regarding prior written notices to lenders.
