Senate banking committee passes massive regulatory relief bill

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
W S

Items Tagged with 'FHFA'

ARTICLES

Credit unions applaud bipartisan reform bill on FHLB membership

Would create parity between banks and credit unions, restrict FHFA limits
Trey Garrison
The National Association of Federal Credit Unions is lauding a bipartisan bill that would grant credit unions parity with banks under Federal Home Loan Bank membership criteria. Here’s what’s cooking.
Read More

Fannie and Freddie set new financial rules for mortgage servicers and sellers

Specifically targets nonbanks
Ben Lane
The GSEs announced Wednesday that they are issuing new operational and financial requirements for all current and potential sellers and servicers that do business with the government sponsored enterprises, making official the proposed rules issued in January.
Read More

FHFA, Fannie, Freddie say single securitization still years away

Secondary market gets much-awaited update
Ben Lane
Despite being asked pointedly during the “Update on the GSE Single Security and Common Securitization Platform” panel at the Mortgage Bankers Association’s National Secondary Market Conference, representatives from the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and Common Securitization Solutions all said that the development of single security is still years way from implementation, without specifying just how many years that might be.
Read More

Fannie, Freddie single mortgage-backed security takes shape in new FHFA update

Details emerge as input still sought on structure
Trey Garrison
The Federal Housing Finance Agency on Friday reported work continues apace on the proposed single mortgage-backed security for the GSEs. Here's where it stands and what's next.
Read More

New FHFA working paper reimagines housing crash

Economists not predicting worst-case scenario, just preparing for it
Trey Garrison
A new working paper from the Federal Housing Finance Agency published today proposes a new way to measure how far home prices could fall in a worst-case scenario like the 2008 housing crash, and early tests show it’s pretty accurate.
Read More

Nomura found liable for selling toxic mortgages to Fannie, Freddie

Judge: Magnitude of falsity “enormous”
Trey Garrison
A federal judge ruled Monday that Nomura Holdings misled Fannie Mae and Freddie Mac when it made false representations about the quality of mortgages that were used to back $2 billion in securities it sold to the GSEs. The judge said the “magnitude of falsity, conservatively measured, is enormous."
Read More

FHFA: HARP now extended through 2016

Matches HAMP deadline
Brena Swanson
After industry rumors of an extension over the past year, the Federal Housing Finance Agency finally announced it is extending the Home Affordable Refinance Program until the end of 2016. Will this be the last extension for HARP and HAMP?
Read More

FHFA eases limits on GSE multifamily lending

Exempts additional types of multifamily mortgages
Brena Swanson
The Federal Housing Finance Agency has announced that Freddie Mac and Fannie Mae can increase their financing of multifamily mortgages, avoiding even more credit tightening.
Read More

FHFA opens door for potential Fannie, Freddie CEO raises

Industry and politicians criticize proposal
Brena Swanson
The CEOs of Fannie Mae and Freddie Mac are in line for a potential pay raise, but the new opportunity has been met with sharp opposition from both the industry and those with political influence.
Read More

Freddie Mac CEO: Ready for legislative solution

Looking at new risk-sharing deals, FICO alternatives
Jacob Gaffney
While much is made of Corker-Warner, Johnson-Crapo and other attempts to finally return the GSEs to the private market, less attention is given to the disruption such lawmaking may have on the internal, day-to-day operations at the housing behemoths.
Read More