In a contract worth up to $45 million over four years, the M&A specialist will help FHFA develop “a roadmap to responsibly end the conservatorships” of Fannie Mae and Freddie Mac.

Democratic senators ask Fannie and Freddie if they have attempted to model the risks associated with climate-related disasters, including floods, wildfires and extreme weather events.

All applications for LIBOR-based single-family and multifamily ARMs must be dated Sept. 30 or earlier or they won’t be eligible for sale to the GSEs.

The move from LIBOR to SOFR suffered a setback in December when financial institutions issued less than $4 billion in floating-rate notes tied to the new reference rate.

The principal change in the proposed FHFA rule is to treat Ginnie mortgages differently from those of Fannie Mae or Freddie Mac.

In efforts to move from LIBOR to SOFR, the GSEs informed market participants to expect new language on all single-family uniform adjustable-rate mortgage instruments that close on or after June 1.

Hiring of a financial advisor marks a significant milestone toward ending the conservatorships of the GSEs, says FHFA Director Mark Calabria.

The agency has picked Houlihan Lokey Capital to help it identify any financial, regulatory or market risks in its path to take Fannie Mae and Freddie Mac out of conservatorship.

The liquid assets required of nonbank seller/servicers will rise from 3.5 basis points to 4.0 bps for the unpaid principal balance of their enterprise servicing.