Items Tagged with 'FHFA Director Mel Watt'

ARTICLES

  • Court of Appeals declares FHFA structure unconstitutional

    Majority opinion finds GSE regulator violates separation of powers
    For the third time in recent memory, a government agency borne out of the housing crisis has been declared unconstitutional by a federal court. The first two times it was the Consumer Financial Protection Bureau. But now, it’s the Federal Housing Finance Agency that has been found to be operating in violation of the Constitution.
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  • Hensarling blames Watt for GSEs needing Treasury money, demands answers

    Criticizes Watt for ordering Fannie, Freddie to contribute to Housing Trust Fund
    One of the top Republicans in Congress lays the blame for Fannie Mae and Freddie Mac needing money from the government for the first time since 2012 not on the Republican tax plan’s reduction of the corporate tax rate, but rather, squarely at the feet of Federal Housing Finance Agency Director Mel Watt.
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  • Fannie, Freddie expand neighborhood stabilization efforts to 10 new markets

    Partnership with National Community Stabilization Trust grows to new cities
    Three years ago, Federal Housing Finance Agency Director Mel Watt announced the “Neighborhood Stabilization Initiative,” an effort to assist homeowners in communities that were disproportionally affected by foreclosures. Now, the Neighborhood Stabilization Initiative is being expanded to 10 new markets.
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  • Watt: Shift away from FICO is among “most complicated” decisions for FHFA

    FHFA considering alternative credit scoring but it’s going to take time
    Just as he did back in August in a speech before the National Association of Real Estate Brokers’ 70th annual convention in New Orleans, Federal Housing Finance Agency Director Mel Watt told the crowd at the Mortgage Bankers Association Annual meeting in Denver not to hold their breath waiting for Fannie Mae and Freddie Mac to begin using alternative credit scoring models.
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  • Carson and Watt call on Congress to take on housing finance reform

    Both tell MBA Annual crowd that conservatorship has lasted too long
    During his speech Monday morning at the Mortgage Bankers Association Annual Meeting in Denver, Federal Housing Finance Agency Director Mel Watt reiterated his recent sentiments that it is time for Congress to take on housing finance reform because the conservatorship of the government-sponsored enterprises has gone on too long. And Watt wasn’t the only big-time housing official to call on Congress to tackle housing finance reform.
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  • Credit unions, community banks want Fannie and Freddie to retain capital

    NAFCU, ICBA ask FHFA to take steps to avoid another bailout
    In a letter sent Thursday to FHFA Director Mel Watt, the National Association of Federally-Insured Credit Unions and the Independent Community Bankers of America ask Watt and the FHFA to “do everything within its authority to ensure the GSEs maintain a capital buffer” to address any potential losses and avoid a bailout in the future.
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  • Huge housing trade groups push FHFA for FICO alternatives

    Calls grow for Fannie and Freddie to use alternative credit scoring models
    A coalition of the housing industry’s largest trade groups want Fannie Mae and Freddie Mac to look beyond FICO and begin using alternative credit scoring models. In a letter sent last week to Federal Housing Finance Agency Director Mel Watt, the groups express their disappointment in Watt, who recently threw cold water on the idea that Fannie and Freddie would begin using alternative credit scoring models at any point in the next two years.
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  • FHFA's Watt reiterates that housing finance reform must come from Congress

    Tells bankers' conference that reform effort goes beyond GSEs
    On Thursday, while Department of the Treasury Secretary Steven Mnuchin told members of the Senate about the Trump administration’s plans for housing finance reform, Federal Housing Finance Agency Director Mel Watt said that the heavy lifting on housing finance reform needs to come from Congress.
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  • Community groups, lenders call for Fannie, Freddie to stop paying dividend to Treasury

    Will Trump administration have a different answer?
    Fannie Mae and Freddie Mac are scheduled to send their latest dividend payment to the Department of the Treasury later this month, but if a consortium of community groups and lenders has their way, that money will stay with the government-sponsored enterprises to help rebuild their dwindling capital base.
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