Federal Home Loan Banks

Browse articles from all of our Newsletters related to Federal Home Loan Banks.

April 29, 2016 - Inside The GSEs

GSE Roundup

Freddie Sets Date for First Quarter Results. Freddie Mac announced that it plans to report its first quarter 2016 financial results before the U.S. financial markets open on Tuesday, May 3, 2016. Fannie Completes 10th CIRT Transaction to Date. Fannie Mae completed its latest Credit Insurance Risk Transfer transaction last week and it’s 10th deal since the program’s inception in 2013. This deal, CIRT 2016-3, shifts a portion of the credit risk on a pool of single-family loans with an unpaid principal balance of approximately $5.7 billion to a single insurer. The covered loan pool consists of 30-year fixed- rate loans with...


April 15, 2016 - Inside The GSEs

Federal Home Loan Bank MBS Investments Increase Year-over-Year

Fannie Mae and Freddie Mac mortgage-backed securities remained the preferred investment choice of the 11 Federal Home Loan Banks during the fourth quarter of 2015 and for the year, according to a new ranking by Inside The GSEs based on data from the Federal Housing Finance Agency. There was a slight 0.9 percent quarterly decline, but a generous 34.7 percent increase from a year earlier. GSE MBS accounted for 77.9 percent of combined MBS portfolios. The FHFA data does not separately break out Fannie and Freddie volume or share. Meanwhile, Ginnie Mae investments accounted for 11.7 percent and non-agency investments were 10.4 percent.


April 15, 2016 - Inside MBS & ABS

Goldman Sachs Settles Pre-Crisis Non-Agency MBS Issues with DOJ, States for $5.06 Billion

The Department of Justice helped lead other federal and state entities in a $5.06 billion settlement with Goldman Sachs. The settlement announced this week involves non-agency MBS underwritten by Goldman between 2005 and 2007. The charges were centered on representations made by Goldman to investors in about 530 non-agency MBS. The offering documents for the MBS stated that mortgages in the deals were originated “generally in accordance with the loan originator’s underwriting guidelines,” other than possible situations where “when the originator identified ‘compensating factors’ at the time of origination.” Findings by third-party due diligence firms helped...


March 18, 2016 - Inside The GSEs

GSE Roundup

FHLBank Advance Data. JP Morgan Chase took the top spot for having the largest amount of Federal Home Loan Bank advances in the fourth quarter at $71,581. The bank saw a slight drop, 2.7 percent from the previous quarter, according to the latest data from Inside The GSEs (with chart). New number for Fannie. Fannie Mae created an easy to remember phone number to make getting in touch with the GSE simpler. Call 1-800-2-FANNIE (1-800-232-6643), which this week replaced multiple numbers. The GSE said the old phone numbers will remain available for a limited period of time. FHFA Chief FOIA Office Report. The 2016 Federal Housing Finance Agency Freedom of Information Act Officer Report noted that inter-agency emails, director calendar entries, internal memos and internal employee training materials are examples of the types of information the agency released at its discretion.


March 18, 2016 - Inside The GSEs

IG: FHLBank Cybersecurity Oversight Needs Improvement

As risks from cyber attacks on financial institutions remain a top concern, the Federal Housing Finance Agency Office of the Inspector General determined that the oversight of the Federal Home Loan Banks’ cybersecurity program is not effective. In an audit released late last month, the IG found in 14 out of the 15 Federal Home Loan Bank IT examinations performed in 2013 and 2014 that included vulnerability scanning and/or penetration testing, the division of bank regulation did not asses the design of the tests performed by contractors at the banks’ discretion.Vulnerability scanning includes a thorough examination of computers, computer systems, networks, and applications to identify security weaknesses.


Poll

Does your lending shop have any plans to make non-jumbo, non-QM loans this year? These would be loans similar to "Alt A" and subprime products made BEFORE standards were loosened severely in the 2004 to 2007 era.

Yes.

33%

No.

33%

It’s under consideration, maybe by 3Q or 4Q.

26%

We were going to until the TRID "error" mess hit.

7%

Housing Pulse