Items Tagged with 'FHFA'

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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.
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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.
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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.
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FHFA: Home prices increase again, rise 1.3%

Marks 19 consecutive quarterly price increases
While home prices only increased a meager 1.3% in the first quarter of 2016, it’s added onto a long string of increases; 19 consecutive quarterly price increases to be exact. According to FHFA Supervisory Economist Andrew Leventis, there is at least one unique factor in this quarter.
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There's no consensus on GSE reform, but there is this

Revolution deadline, TBD
After attending a conference with some of the top investors in housing, I’ve come to realize housing is as close to solving GSE reform as it is in solving "which came first, the chicken or the egg?" But amid all the opinions and solutions discussed, there was one session right before I headed back to Dallas that tossed out an opinion I think needs to be mentioned.
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FHFA: More than 3.4 million homeowners used HARP

A little more than 6 months left
The Home Affordable Refinance Program comes to a close this year. Now the FHFA will put in its last efforts to encourage homeowners to take advantage. But, before we all wave a teary goodbye, here are some stats offering a snapshot of the epic, Federal program.
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Freddie Mac posts second NPL sale of 2016

One $135M pool
Freddie Mac announced plans for its second non-performing loan sale of the year. While it’s not nearly as much as the $1.6 billion transaction announced at the start of the year, there’s still $135 million up for grabs.
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Freddie Mac's rough first quarter will likely embolden calls for GSE reform

Vocal critics of GSE capital structure hold new card to play
If you listen closely, you can hear the noise surrounding the recapitalization and release of the government-sponsored enterprises from conservatorship getting louder thanks to Freddie Mac reporting a loss of $354 million in the first quarter. Now all those who want to see an end to the GSE conservatorship for whatever their particular motivation is have a new card to play. And they will play it.
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Former president of Ginnie Mae: Agency should split from HUD

It's time to reconsider Ginnie Mae's role within HUD
Ginnie Mae would be considered a blue-chip institution in the private sector but is unable to plot its own budgetary course, which is a major impediment to growth and stability. Today, Ginnie is a success story. It has outgrown its role as a specialist supporting HUD and, instead, has ballooned to become a core industry driver. Something needs to change.
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