Items Tagged with 'Fannie Mae'

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Congress to consider bill requiring Fannie Mae, Freddie Mac to offload more risk

New bill facilitates additional credit-risk transfers to private market
Despite a new report from Moody’s Investors Service stating that wholesale reform of the government-sponsored enterprises is years away, some members of Congress are pursuing changes to how Fannie Mae and Freddie Mac operate. On Thursday, Reps. Ed Royce, R-Calif., and Gwen Moore, D-Wisc., introduced a new bill in the House of Representatives that would require the GSEs to offload more credit risk onto the private sector.
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Moody's: Privatizing Fannie Mae, Freddie Mac would cost "hundreds of billions"

Report predicts disruption to secondary market
Steve Mnuchin, President-elect Donald Trump’s choice to lead the Department of the Treasury, recently said that “getting Fannie and Freddie out of government ownership” is one of the Trump administration’s top 10 priorities. But just how realistic is that plan? According to a new report from Moody’s Investors Service, privatizing the GSEs is not only unlikely to happen any time soon, it’s also hugely cost-prohibitive, and it would be a negative for bond investors as well. Other than that, Mrs. Lincoln, how was the show?
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Freddie Mac takes next step to single securitization

Implements Release 1
Freddie Mac just implemented the next step of the single securitization process. Freddie Mac is now using CSP for data acceptance, issuance support and bond administration activities released to current single-class, fixed-rate, mortgage backed securities. The timeline for the implementation for Release 2 is still to come.
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Fannie Mae, Freddie Mac hike mortgage modification interest rate for first time in 2016

Benchmark rate increased back to February 2016 level
The market mortgage interest rates aren’t the only ones on the way up, as Fannie Mae and Freddie Mac announced Wednesday that they are increasing the benchmark interest rate for standard mortgage modifications to a level not seen in 10 months. The increase will be the first time that the GSEs increased the modification benchmark interest rate in 2016.
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Fannie Mae: Americans again expect home prices to start rising

Shift in rates may dampen housing sentiment
Consumer optimism fell in December, but was partially offset by the increased optimism after the presidential election. But how will this play out long term? Fannie Mae cautions readers against drawing conclusions about sustainable changes in consumer sentiment so soon after the election.
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MBA CEO: GSE reform won’t make Trump’s shortlist

The fight for the MID
GSE reform made headlines again last week when Treasury secretary nominee Steve Mnuchin alluded to the Trump administration's plans for GSE reform. However, the plans are likely to stay just that — plans, according to an interview with Mortgage Bankers Associatoin CEO David Stevens. There are lots of other areas that Trump needs to focus on first, Stevens explained in an interview with HousingWire.
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[Video] The many challenges facing Trump on promised GSE reform

Where will GSE reform rank in priority?
Reforming Fannie Mae and Freddie Mac moved from a backburner issue to a hot topic after Treasury secretary nominee Steve Mnuchin revealed his plans for GSE reform in an interview on Wednesday. So how does this look in execution? Recently, after moderating a panel on GSE reform, Jeb Mason, a partner at The Cypress Group, explained what the biggest challenges facing President-elect Donald Trump on this are going to be.
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From HW Magazine

Unlocking the door to homeownership

Two programs strike a delicate balance between access and quality
Almost a decade after the housing crisis, many responsible potential homeowners remain locked out of the market. But recently there have been a pair of hopeful developments that may be key to opening doors to homeownership for qualified first-time and underserved buyers. Fannie Mae and Freddie Mac have unboxed two long-anticipated initiatives designed to make credit more available to deserving potential buyers without compromising standards. Importantly, these are not politically driven affordable lending programs. 
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Trump Treasury pick: Fannie Mae and Freddie Mac will be privatized

Steve Mnuchin tells Fox Business: "We’ll get it done reasonably fast"
Making the media rounds after being selected to serve as Treasury secretary by President-elect Donald Trump, Steve Mnuchin dropped a bombshell about the future of Fannie Mae and Freddie Mac. Rather than be wound down, as some advocate for, Mnuchin said the government-sponsored enterprises will be taken out of “government ownership,” restructured, and privatized.
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