Critics argue the new second mortgage program is another attempt by Freddie Mac to expand its footprint. But GSE insiders say it’s already allowed under its charter.
Statements by President Biden indicate that, if he is re-elected, reducing housing costs will be a priority for the administration. If Trump returns, the regulatory environment is likely to be accommodative for lenders.
Don Layton applauded FHFA’s plans to reform the FHLBanks, arguing that it will take strong, independent supervision to prevent them from exploiting their government subsidy for private gain.
The FHLBanks, like Fannie Mae and Freddie Mac, have a public/private structure that can incentivize private profits at public cost. Don Layton, former Freddie CEO, said the banks are ripe for reform.
Ed DeMarco, the former acting director of the FHFA, was among a handful of panelists at the SFVegas conference this week who called for more standardization in the non-agency MBS market.
The Federal Reserve published a hypothetical economic collapse for banks to use in their annual stress test this year. The same scenario might be used by FHFA for Fannie Mae and Freddie Mac.
The MBA is taking its concerns about rising costs associated with obtaining credit scores to the FHFA, CFPB and FTC. A CFPB official said the regulator is willing to consider looking into the issue.
Below contract appraisals in majority Black census tracts are much less likely to receive time adjustments than those in majority white tracts, according to new research from FHFA.