This is why Fannie and Freddie mortgage initiatives won't work

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
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Items Tagged with 'FHFA'

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This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary
Lynn Effinger
Several newsworthy events have occurred over the past several days that would seem to indicate that the housing “recovery” is picking up steam. While that would be welcome news for our country in general and our industry in particular, these reports are tempered by the potential unintended consequences of certain actions either taken or not taken.
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SEC approves risk retention rule, pending Fed approval

Industry continues to weigh in
Brena Swanson
The Securities and Exchange Commission approved the final version of the risk retention rule that would require banks to retain at least 5% of the risk on their books when securitizing loans. Now all that is left is approval from the Federal Reserve.
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MBA’s Stevens: Final risk retention rule works for mortgage bankers

Alignment of QM and QRM helps lenders
Trey Garrison
The president and CEO of the Mortgage Bankers Association says he believes the final QRM definition issued today by the Federal Deposit Insurance Corporation will be a positive for the industry.
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Sterne Agee: Tweaks to put-back rules won’t bait lenders to low FICO loans

LTV changes will open doors for some
Trey Garrison
The planned tweaks in mortgage put-back rules won’t draw major mortgage companies into offering loans to lower FICO borrowers, according to a client note from Sterne Agee, even though new Federal Housing Finance Agency plans to develop 95-97% LTV loans are a positive.
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Joint agency rule on risk retention goes to Fed, SEC for final adoption

Rule requires 5% skin in the game, alignment of QM and QRM
Trey Garrison
The Federal Deposit Insurance Corporation on Tuesday issued the final version of the rule that would require banks to retain at least 5% of the risk on their books when securitizing loans.
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FHFA director announces changes to open Fannie, Freddie credit boxes

Clarifies lending liability in reps & warranties, increases LTV ratios
Trey Garrison
In a speech at the Mortgage Bankers Association Convention & Expo on Monday, Federal Housing Finance Agency Director Mel Watt announced a number of policy steps aimed at increasing mortgage credit availability.
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Mel Watt and Julian Castro announce housing policy changes

MBA calls the policy changes "extremely positive"
Sarah Wheeler
Attendees at the Mortgage Bankers Association's Annual Convention & Expo think the changes are good. Really, really good.
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MBA leaders challenge federal regulators to take action

MBA: It's time for the penalty phase to end
Sarah Wheeler
"Today's lenders are paying many times over for mistakes that may have been out of their control," Bill Cosgrove, MBA chairman, said Monday at the MBA Convention in Las Vegas. "And it's the consumer who pays the ultimate price. It's time for the penalty phase to end."
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Here’s how FHFA opening the credit box could affect the industry

Compass Point: Originators, builders, mortgage insurance benefit
Trey Garrison
It’s likely that Federal Housing Finance Agency Director Mel Watt will announce a number of policy steps aimed at increasing mortgage credit availability when he speaks at the Mortgage Bankers Association Convention & Expo on Oct. 20.
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Is the Massachusetts AG's run for governor compromised by GSE buyback lawsuit?

Nonprofit CEO also co-chairs Coakley’s campaign finance committee
Ben Lane
Massachusetts Attorney General Martha Coakley stands accused of failing to disclose close ties between her gubernatorial campaign and a nonprofit that’s at the center of the State of Massachusetts’ lawsuit against the Federal Housing Finance Agency, Fannie Mae and Freddie Mac over buyback programs.
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