Items Tagged with 'GSEs'

ARTICLES

  • Freddie Mac reports $3.3 billion loss in Q4

    Will request draw from Treasury to cover loss
    Freddie Mac, while reporting a profit for the full year in 2017, posted a more than $3 billion loss in the fourth quarter. The fourth quarter’s net income posted a loss of $2.9 billion, and comprehensive income showed a loss of $3.3 billion. Here’s why, and what happens next.
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  • Fannie Mae needs billions from Treasury for the first time since 2012. What happened?

    Credit the Republican tax plan, and much more
    If you’ve been playing close attention, you knew this day was coming, but that doesn’t make it any less shocking. Fannie Mae needs money from the government for the first time since 2012. So, how did we get here? The easy answer is to blame the Republican tax plan, and in many ways, that’s correct… but it’s far more complicated than that.
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  • Trump budget proposes to reduce deficit by raising g-fees

    Extends increase to 2023
    President Donald Trump released his 2019 budget proposal which suggests taking revenue from Fannie Mae and Freddie Mac to lower the deficit. The spending plan released Monday asks Congress to raise the fees the mortgage guarantors charge to back payments on mortgage-backed securities.
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  • Wells Fargo: Here’s the impact of HARP extension, GSEs’ new high-LTV refi program

    Eligibility rules of refi program will limit scope
    After several delays, the government’s crisis-era Home Affordable Refinance Program was finally set to expire next month, until the Federal Housing Finance Agency announced Thursday that it’s extending the HARP deadline until the end of 2018. So what’s the impact of the change? Not much, unless there’s another housing crisis, Wells Fargo said in a new report.
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  • FHFA: HARP extended through 2018

    Refinance program previously set to end next month
    The government’s Home Affordable Refinance Program was all set to end next month, September 30, to be exact, but that’s not the case anymore. The Federal Housing Finance Agency announced Thursday that it is extending HARP through Dec. 31, 2018, adding an additional 15 months onto the program’s already extended lifespan.
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  • Fannie, Freddie fail Dodd-Frank severe stress test

    Would need nearly $100 billion bailout in economic adversity
    The Federal Housing Finance Agency released the latest results for Fannie Mae and Freddie Mac’s stress test. The results showed the GSEs would need a combined total of nearly $100 billion to bail them out in the case of a severe economic crisis.
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  • Newly unsealed documents reveal real reason for Fannie, Freddie profit sweep

    Report: Geithner knew in 2011 that GSEs would soon be profitable
    Newly unsealed documents from Fannie Mae and Freddie Mac show the government knew changing the terms for the bailout in 2012 would be more profitable for the U.S. Treasury. What’s more, the documents show the government officials involved factored this soon-to-be-profit increase into their decision.
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  • Fitch: New tools from Fannie Mae, Freddie Mac will make mortgages safer

    Changes to appraisals, verification of borrowers’ finances strengthen underwriting
    Mortgage underwriting is getting stronger and safer for both borrowers and lenders thanks to new tools introduced in recent years by Fannie Mae and Freddie Mac, Fitch Ratings said in a new report. According to Fitch, new approaches to appraisal valuation and income verification are “improving these government-sponsored enterprises’ ability to assess credit risk, while reducing costs for sellers and borrowers.”
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