Items Tagged with 'FHFA'

ARTICLES

FHFA's Watt: Congress needs to handle housing finance reform

Fannie Mae, Freddie Mac overseer responds to calls to end GSE status quo
In recent weeks, several different groups tried to exert public pressure on the Federal Housing Finance Agency in an attempt to end the housing finance system's current status quo. Up to this point, the FHFA and its director, Mel Watt, did not respond directly to these efforts. But now, Watt is responding to those public salvos, albeit much more quietly than the trade groups or the politicians.
Read More

Who is eligible for principal reduction? New report sheds light on groundbreaking program

Just how many borrowers are eligible? Where are they located?
When the Federal Housing Finance Agency announced earlier this year that it was going forward with a groundbreaking plan to offer principal reduction to a select number of borrowers, the details on who exactly would be eligible were somewhat scarce, outside of the stipulations for the program provided by the FHFA. A new report from the FHFA provides more detail on how many borrowers are eligible and where they are located.
Read More

Corker, Warner, bipartisan Senate coalition to FHFA: Leave GSE reform to us

But don’t expect it any time soon
Over the last few months, several groups attempted to push the Federal Housing Finance Agency to allow Fannie Mae and Freddie Mac to rebuild their dwindling capital base. Now, several of the most significant voices on housing finance reform in the Senate are weighing in with their own view on the situation. Their advice? Leave housing finance reform to us.
Read More

FHFA: Fannie, Freddie single securitization coming in 2018?

Everyone, there is a full year left, so start getting ready now
The Federal Housing Finance Agency announced Thursday that it is making progress on the implementation of the single security to be issued by both Fannie Mae and Freddie Mac, and, for the first time, provided a look at just when the common security will become a reality. So, when is the single security coming? Click through to find out.
Read More

Fannie Mae, Freddie Mac look for more ways to share credit risk

GSEs provide update on risk-sharing programs; seek input on front-end deals
The federal government is looking for additional methods and mechanisms that it can use to transfer credit risk currently borne by Fannie Mae and Freddie Mac, and therefore the American taxpayers, to private investors. Here's a breakdown of the history of Fannie and Freddie's risk-sharing deals, and a look at what the GSEs want to do next.
Read More

FHFA "strongly disagrees" with questioning Fannie Mae's motives for HQ construction

Watt responds to watchdog's allegations
In a wide-ranging report released Thursday, the FHFA Office of Inspector General seemingly questioned the motives of Fannie Mae surrounding the construction of its new headquarters in Washington, D.C. In a response to the OIG report, FHFA Director Mel Watt balks at the veiled questioning of Fannie Mae's motives, saying he "strongly disagrees" with the assertion that Fannie Mae has "little incentive" to hang on to its money.
Read More

FHFA watchdog blasts lax oversight of rising Fannie Mae headquarters construction costs

FHFA-OIG: Projected cost carries "significant financial and reputational risks"
The Federal Housing Finance Agency has been lax in its duties as the overseer of Fannie Mae, and needs to do far more to address the dramatically rising cost of Fannie Mae's new Washington, D.C. headquarters, the FHFA's watchdog said in a new report. Here are all the details.
Read More

Community lenders "baffled" to see major trade groups push "Wall Street" agenda

CMLA pushes back against MBA, NAR efforts on GSE reform
The battle lines surrounding the potential reform of Fannie Mae and Freddie Mac are becoming firmly drawn, with the Community Mortgage Lenders of America denouncing and rejecting a recent letter from several of the largest trade groups in housing that called for the Federal Housing Finance Agency to leave Fannie and Freddie reform to Congress.
Read More