Items Tagged with 'Mel Watt'

ARTICLES

  • FHFA watchdog faces investigation for misconduct

    Accused of disparaging employees, attempting to intimidate witnesses
    The top watchdog for the FHFA is facing investigation for misconduct after accusations surfaced that she purposefully weakened her office’s oversight. But her conduct surrounding her oversight of the government-sponsored enterprises isn’t the only thing being called into question – her interactions with employees are also under investigation.
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  • Monday Morning Cup of Coffee: Reuters publishes hit piece on Invitation Homes

    Plus a $1 billion listing, dwindling numbers of homeowners in the City of Angels and more
    Alright, alright, alright. It’s that time again. Monday is upon us and we’re serving up another round of Monday Morning Cup of Coffee. There’s drama in the single-family rental market after Reuters dropped a bombshell report on the largest single-family home landlord in the nation, Invitation Homes, detailing numerous allegations of neglect and sketchy business practices.
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  • Politico: FHFA Director Mel Watt under investigation for alleged sexual misconduct

    Watt claims leak of investigation documents is politically motivated
    Friday, news broke that Federal Housing Finance Agency Director Mel Watt is under investigation for alleged sexual misconduct. According to an article from Politico, Watt is being accused by an FHFA staffer of repeatedly making inappropriate sexual advances when she tried to discuss career and salary concerns.
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  • VantageScore: Director Watt, don’t waste this opportunity

    Mel Watt, the director of the FHFA, has a decision to make
    [Expert Commentary] As regulator and conservator of the GSEs, Mel Watt, the director of the FHFA, has a decision to make. He could open the GSEs’ credit score requirements to include other credit scoring models– broadening access to mainstream mortgage financing without lowering standards and in the process eliminating the scoring monopoly created by the GSEs.
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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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  • 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.
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  • 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.
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  • 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."
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  • 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.
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