What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.


Is GSE reform just weeks away?

Acting FHFA director plans to announce plan

Calls for government-sponsored enterprise reform have gone on for years – but now that reform could be just weeks away from becoming a reality.

Earlier this month, Mel Watt’s time as the director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, officially ended.

The FHFA is now led by Comptroller of the Currency Joseph Otting, who was picked by President Donald Trump to serve as acting director of the FHFA while Mark Calabria is awaiting Senate confirmation to replace Watt on a permanent basis.

Now, Otting announced to the agency’s employees that the FHFA will release its plan within weeks to take the GSEs out of conservatorship, according to an article by Steve Goldstein and Andrea Riquier for MarketWatch.

From the article:

Joseph Otting, who is leading the FHFA as Mark Calabria awaits Senate confirmation, said at an all-hands meeting on Thursday that a plan to lift Fannie Mae and Freddie Mac out of the conservatorship that has permeated the institutions since the financial crisis will soon be announced, according to an attendee of that gathering.

A spokesperson for the agency confirmed there was discussion about ending Fannie and Freddie conservatorship but denied there was any talk of timing or details.

And now, Fannie and Freddie shares are skyrocketing. Fannie Mae saw its shares increase by 31% to $2.37 and Freddie Mac increased 24% to $2.25 at 2:05 p.m. in New York, according to an article by Joe Light for Bloomberg.

From the Bloomberg article:

The increases were the biggest since November 30, 2016, when then-Treasury Secretary nominee Mnuchin first said getting the companies out of the government’s grip was a priority.

Back in September 2017, during a Politico Policy Summit in Washington, U.S. Department of the Treasury Secretary Steven Mnuchin said GSE reform would be addressed in 2018. Obviously, this didn’t happen.

During an interview with Fox Business in May 2018, Mnuchin confessed that reforming mortgage giants Fannie Mae and Freddie Mac probably wasn’t going to happen that year, and isn’t a priority for this Congress.

However, he did tease that once Watt’s term expired, the administration would select someone more focused on GSE reform.

And experts think the nomination of Calabria to lead the FHFA could kickstart discussions on GSE reform.

Most Popular Articles

FHFA extends forbearance period to 18 months

In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

Feb 25, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please