Federal Home Loan Banks
Browse articles from all of our Newsletters related to Federal Home Loan Banks.
November 27, 2013 - Inside Mortgage Finance
The Federal Housing Finance Agency needs to be more hands-on and engaged with additional resources to best oversee Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks, according to the agencys inspector general. In its semi-annual report to Congress, the FHFA IG noted recurring oversight issues that policymakers may want to consider as part of reforming the secondary mortgage market. The recent housing crisis has shown...
November 22, 2013 - Inside The GSEs
Combined net income for the 12 Federal Home Loan Banks dropped 26.4 percent to $537 million in the third quarter, according to the Federal Home Loan Bank Office of Finance. The FHLBanks net income for the nine months ended Sept. 30, 2013, was $1.847 billion, a 5.0 percent decrease compared to the same period in 2012. These decreases were driven by lower net interest income, partially offset by improvements in non-interest income, noted the Office of Finance.
November 22, 2013 - Inside The GSEs
Freddie Launches Broker Training Program to Boost REO Sales. Freddie Mac announced this week it has launched a new program to train real estate agents how to better move real estate-owned homes through its HomeSteps sales unit. Freddies new Certified Community Stabilization Expert program is an eight-hour online course developed by San Diego-based Community Asset Solutions to teach the latest lessons for selling REO homes, according to Chris Bowden, senior vice president, HomeSteps. The CCSE program curriculum is designed to help real estate professionals work more effectively with nonprofits and local governments, take advantage of public initiatives for maintaining properties and create new outreach efforts for owner-occupant buyers, especially low- and moderate-income homebuyers, said Bowden.
November 22, 2013 - Inside MBS & ABS
Any policies employed by federal regulators that restrict mortgage lending in localities that use eminent domain to seize underwater mortgages would violate anti-discrimination laws, according to a group of House Democrats. In letters to two government agencies, a group of 10 Democrat lawmakers led by Minnesota Rep. Keith Ellison said the Federal Housing Finance Agency should continue to provide access to government-sponsored enterprise MBS guaranties and the Department of Housing and Urban Development should allow FHA mortgage insurance in such communities. To deny such access would be illegal under the Fair Housing Act and would violate credit discrimination laws, according to a draft of the letters obtained by Inside MBS & ABS. An FHFA spokesman confirmed...
November 15, 2013 - Inside MBS & ABS
A Miami-based investment management firm, one of the largest junior preferred shareholders of Fannie Mae and Freddie Mac, this week offered to buy and operate the MBS guaranty businesses of the two government-sponsored enterprises with $52 billion of private capital and a business plan that is sustainable with or without a federal reinsurance plan. In a four-page letter to Federal Housing Finance Agency Acting Director Edward DeMarco, Bruce Berkowitz, chief investment officer of Fairholme Capital Management, proposed to form two new state-regulated insurance companies to own and operate the assets of Fannie and Freddie that are relevant to the continuing insurance business. Under the Fairholme plan, the new MBS guarantors would be capitalized...
November 8, 2013 - Inside The GSEs
Depending on how the Senates housing finance reform legislation comes out in the end, the Federal Home Loan Banks could play an even larger role in helping smaller lenders successfully access the secondary market, Richard Swanson, president and CEO of the Des Moines Bank, said this week. Testifying before the Senate Banking, Housing and Urban Affairs Committee, Swanson said that the secondary mortgage market, as envisioned by S. 1217 by Sens. Bob Corker, R-TN, and Mark Warner, D-VA, would allow the 12 FHLBanks to serve in an expanded role as mortgage aggregators.
November 7, 2013 - Inside Mortgage Finance
Figuring out the details on how to structure, capitalize and operate new secondary-market facilities for small lenders are key challenges for the Senate Banking, Housing and Urban Affairs Committee as it pushes to mark up mortgage reform legislation by the end of this year. This week, lawmakers pushed lender trade groups to come together and find answers. The bipartisan Senate blueprint for secondary mortgage market reform includes several key provisions designed to facilitate small-lender access when Fannie Mae and Freddie Mac are no longer around, including creation of a new mutual or cooperatively-owned institution through which lenders could issue conventional mortgage-backed securities guaranteed by the government. If a new MBS mutual for small lenders is going to be competitive, it will have to be capitalized...[Includes one data chart]
October 25, 2013 - Inside The GSEs
The Federal Home Loan Bank System is suffering from a public image problem. It doesnt have much of one and what the public, and more importantly policymakers, dont know about the 12 regional FHLBanks and/or their 7,600 member owners could hurt them, according to the American Bankers Association. The problem for the FHLBanks the trade group noted in its most recent edition of ABA Federal Home Loan Bank Member Insights is that the low profile which has served the Bank system so well in the past has become a sizable policy risk as relatively few people who will be directing housing finance reform know or understand just what the FHLBanks do.
October 25, 2013 - Inside The GSEs
The Federal Housing Finance Agency moved this week to formalize an anti-fraud initiative it rolled out some 16 months ago that requires Fannie Mae, Freddie Mac and the Federal Home Loan Banks to notify the agency forthwith of fraudulent activity by a GSE-associated individual or company. The interim final rule published in the Oct. 23 Federal Register generally codifies the procedures under the FHFAs existing Suspended Counterparty Program, established in June 2012, with a request for public comment.
- GSE Seller Profile: 3Q13
- GSE Repurchase Activity First Half 2013
- Top Mortgage Players: 2Q13
- Mortgage Profitability Report: 2Q13
- GSE Market Profile: FY12
- GSE Private Mortgage Insurance Profile
- Guide to Jumbo Lending and the Rise of Non-Agency MBS Conduits
- 2013 Guide to Fair Lending Compliance
- Mortgage Seller's Guide to Agency Application
- Guide to the CFPB's LO Comp Rule
- Guide to the Ability-to-Repay Rule and Qualified Mortgages
- The Complete Guide to Mortgage Buyback Strategies 2013: Managing Increasing Requests
With loan volumes falling, particularly refinancings, where do you see originations coming in at in 2014?
- $1.4 trillion to $1.6 trillion
- $1.2 trillion to $1.39 trillion
- $1 trillion to $1.19 trillion
- Beam me up, Scotty
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