Items Tagged with 'GSE'

ARTICLES

  • Fannie Mae adds former FDIC Chair Sheila Bair to board of directors

    Led federal banking regulator during financial crisis
    With the company seemingly moving closer to being returned to its pre-crisis state as a private company, Fannie Mae is bringing on some serious banking experience to help guide the GSE’s future. Fannie Mae announced Wednesday that Sheila Bair, the chair of the Federal Deposit Insurance Corp. during the financial crisis, is joining the GSE’s board of directors.
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  • Fitch: GSE reform won't hurt Fannie, Freddie ratings

    Ratings will remain intact, at least in the near term
    With word circulating that a plan for GSE reform is imminent, Fitch Ratings Agency released a review of what might happen to the credit ratings of Fannie Mae and Freddie Mac upon the release of the Treasury Department’s anticipated roadmap. The good news for those gunning for an end to the conservatorship? Fannie and Freddie’s ratings shouldn’t take too much of a hit – at least, not right away, according to Fitch.
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  • Housing News Podcast: Angel Oak’s Tom Hutchens explains what the QM Patch's expiration means for the housing industry

    Listen to this week's latest episode
    Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Blend. This week, Tom Hutchens, the EVP of production at Angel Oak Mortgage Solutions, explains to listeners the role of Non-QM lending and what the expiration of the QM Patch could mean for the housing industry. Additionally, Hutchens discusses the nation’s homebuying confidence, which climbed to new heights in July.
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  • Urban Institute: Launch of FHFA's single security was "flawless"

    Says uniform security lays important groundwork for GSE reform
    In June, the Federal Housing Finance Agency announced that its long-laid plans to launch a single security – the Uniform MBS – for loans backed by Fannie Mae and Freddie Mac had finally come to fruition. Now, with two months of UMBS in play, the Urban Institute is praising the successful launch of this “enormous undertaking,” noting the critical groundwork it lays for future GSE reform.
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  • David Applegate to step down as CEO of Common Securitization Solutions

    News follows the June launch of Uniform Mortgage-Backed Security
    In 2013, Freddie Mac and Fannie Mae established Common Securitization Solutions to design and implement the single GSE bond through the Common Securitization Platform. David Applegate was appointed CEO at the jointly owned company’s launch. But on Thursday, Fannie and Freddie announced that he is stepping down. 
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  • CFPB moves to kill QM patch

    Plans to level playing field by ending special treatment for GSEs
    The CFPB revealed late Thursday that it plans to allow for the planned expiration of the QM patch in January 2021, noting that it may impose a brief extension “to facilitate a smooth and orderly transition.” Regardless, the QM patch appears to be nearing its end days. The bureau is seeking input on how to make this transition, and a number of industry players are already weighing in, stressing an urgent need to redefine a Qualified Mortgage. Click the headline to read more.
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  • Fannie Mae, Freddie Mac still in conservatorship in 2024? Calabria says it’s possible

    Tells Reuters that he hopes to have GSEs out of conservatorship by 2024
    Recent reporting by Bloomberg suggested that the Trump administration may be wavering on pursuing widespread reforms of Fannie Mae and Freddie Mac in advance of the 2020 election due to the potential economic impact of those reforms on voters. Now, Federal Housing Finance Agency Director Mark Calabria now says it’s possible that the GSEs may remain in conservatorship until 2024, at least.
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  • 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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