Articles Tagged with ''GSE''

Wall Street insider Craig Phillips leaves Treasury without Fannie, Freddie reform

Phillips was “one of the few senior folks at Treasury with clout” to negotiate on GSEs
Craig Phillips, Treasury Secretary Steven Mnuchin’s top housing advisor and the point person for reform of Fannie Mae and Freddie Mac, has left his position before achieving any major changes at the mortgage giants. “Mnuchin simply lacks the time and energy needed to advance a housing finance reform plan,” Jaret Seiberg, Managing Director at Cowen Group, said in a note to clients.
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Freddie Mac unveils new security to provide affordable housing liquidity for small lenders

To help financial institutions with less than $10 billion in assets access additional liquidity
Freddie Mac is launching a new security to help smaller lenders access additional liquidity for affordable housing financing. The GSE announced its new Private Placement PC Swap – or PPP – on Wednesday to help financial institutions with less than $10 billion in assets access additional liquidity for financing affordable housing.
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Senate confirms Mark Calabria to lead FHFA

Confirmed by a vote of 52-44
The Senate confirmed the nomination of Mark Calabria to serve as the next director of the Federal Housing Finance Agency. The Senate voted 52-44 in favor of Calabria leading the agency, which oversees Freddie Mac and Fannie Mae.
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Fannie Mae names two additions to its board of directors

Welcomes Google Assistant Treasurer Karin Kimbrough and Coinbase legal pro Brian Brooks
Fannie Mae has announced the appointment of Karin Kimbrough and Brian Brooks to its board of directors, two heavy-hitters with legit banking, tech and legal expertise. Kimbrough works as assistant treasurer for Google, while Brooks is chief legal officer at Coinbase Capital.
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Freddie Mac CEO Don Layton stepping down in July, David Brickman to take over

Layton set to retire July 1
Don Layton’s time as CEO of Freddie Mac will officially end this summer, the government-sponsored enterprise announced Thursday morning. Layton has led Freddie Mac since 2012, but the GSE announced last year that Layton would be retiring at some point in the second half of 2019. And Thursday, the GSE revealed exactly when Layton’s run as CEO will end, and who will replace him.
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Fannie Mae names new chair of the board

Egbert Perry stepping down, Jonathan Plutzik elevated from vice chair
Fannie Mae recently had a change at one of its most important leadership positions when Tim Mayopoulos stepped down as CEO after serving in that role for more than six years, but it turns out that isn't the only change to the government-sponsored enterprise’s management happening this year. Fannie Mae announced Monday that Egbert Perry is stepping down from his position as chair of the GSE’s board of directors.
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Fannie Mae unveils new form of credit insurance risk transfer for multifamily loans

Transfers risk on $10.9 billion in multifamily loans
Fannie Mae announced it completed its first-ever multi-tranche Credit Insurance Risk Transfer transaction, transferring risk on $10.9 billion in multifamily loans. Fannie Mae Multifamily Vice President Jonathan Gross said this new transaction transferred $273 million of risk to nine reinsurers and insurers.
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What would Mark Calabria as FHFA director mean for the future of Fannie and Freddie?

Analysts weigh Calabria’s potential impact
The Trump administration has officially nominated Mark Calabria to be the next director of the FHFA when Mel Watt’s term is up early next year. But what would Calabria bring to the FHFA and what might that mean for the future of Fannie Mae and Freddie Mac? Here's a look at what's next, from those in the know.
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