Items Tagged with 'Mel Watt'

ARTICLES

  • 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.
    Read More
  • GSE reform in 2018? Mortgage finance positions of power in Washington up for grabs

    The changing of the guard
    [Commentary] There’s a perfect storm going on in Washington D.C right now. Just as talks over housing finance reform start to move from a laughing matter to a serious topic of discussion, some of the biggest positions of power on Capitol Hill just opened up. Or, they’re about to be up for grabs. Here’s a quick pulse on all the changes.
    Read More
  • MBA experts on GSE reform: Where does risk fall when it comes to reform?

    Hint: It’s not the capital buffer
    Fannie Mae and Freddie Mac are getting uneasily close to spending nearly a decade in conservatorship, with Sept. 6, 2008, officially marking 10 years. As conservations have slowly shifted from almost a joke to more of a serious possibility under the new administration, several experts at the Mortgage Bankers Association’s 2017 annual convention and expo weighed in on the probability reform and what lies ahead for reform.
    Read More
  • Stevens: Legislation is the only cure for the industry's false sense of security

    New leaders at FHFA, CFPB could change things drastically
    “What happens if the president nominates a new director who thinks the government role in mortgage finance is too large and wants to scale it back?” MBA Chairman David Stevens asked. “The answer is that it could affect everything from g-fees to loan limits. Credit policy could change which would impact the QM patch and confidence in the rule as it works today. Even the level playing field in pricing and credit terms could change as there is nothing – locked in."
    Read More
  • VantageScore: How the FHFA can open the door to alternative credit score models

    A transition from the FICO model
    Although FHFA Director Mel Watt recently threw cold water on the idea, at some point in the future, the mortgage industry will move to using a credit scoring model other than one built by FICO prior to the recession. A push towards embracing alternative credit scoring models has gained steam in recent years, and as the discussion starts to grow, VantageScore Solutions plans to be right at the forefront of it.
    Read More
  • Inspector questions Fannie Mae’s new controversial Washington D.C. headquarters

    FHFA Director responds to negative feedback from FHFA OIG
    An updated report from the Federal Housing Finance Agency Office of Inspector General thrust issues surrounding Fannie Mae's new headquarters back into the spotlight. The report further fuels those in Congress who say the building costs are excessive and expensive to taxpayers. FHFA Director Mel Watt, however, adamantly disagrees.
    Read More
  • FHFA Director Watt gives small glimpse into status of 3% down programs

    Here's who has used the program
    Since Fannie Mae and Freddie Mac unveiled their low down mortgage programs back in 2014, there hasn’t been a lot of detail given around the status or success of the programs. While the information is still sparse, Federal Housing Finance Agency Director Mel Watt gave a brief update on the low down programs in his testimony for his hearing before of the House Financial Services Committee.
    Read More
  • Watt suggests GSEs need to hold some capital, urges Congress to act on housing reform

    GSE capital buffer will hit 0 soon
    Federal Housing Finance Agency Director Mel Watt once again pressed Congress on the urgent need for housing finance reform due to the imminent government-sponsored enterprise capital buffer timeline. In less than three months, both Fannie Mae’s and Freddie Mac’s capital buffer will fall to zero. Is the market ready for this?
    Read More
  • Message from housing finance groups: Congress must work on GSE reform

    Groups send joint letter to Mnuchin and Watt
    Initial talks from the Trump administration on reforming Fannie Mae and Freddie Mac are not happening as quickly as originally anticipated due to a growing backlog of things to accomplish in Washington D.C. Despite the slowed-down timeline, some of the biggest housing finance groups joined together to remind housing officials to stay focused on reform.
    Read More