The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
As a new era of oversight begins, Rep. Maxine Waters, D-CA, chairwoman of the House Financial Services Committee, is aiming for reform of credit reporting agencies.
Mortgage lenders continue to fund loans even as the record-long government shutdown entered its fifth week. However, the process, particularly for FHA and VA, is much slower than a few weeks ago due to lack of funding and severely reduced staff, according to industry participants.
Independent mortgage banking firms that weren’t adequately hedged at yearend are facing minor- to moderate-sized writedowns on the value of their servicing portfolios, according to interviews conducted by Inside Mortgage Finance this week.
The Treasury Department continues to work on administrative changes for Fannie Mae and Freddie Mac that can be implemented by the Federal Housing Finance Agency, but a blueprint won’t see the light of day until sometime in the spring, if then.
A total of $223.74 billion of new non-mortgage ABS came to market in 2018, the best annual showing since the financial crisis, according to a new ranking and analysis by Inside MBS & ABS.The market faltered in the fourth quarter, however, as ABS production slumped 14.9 percent to $45.05 billion. That was the lowest quarterly output since the end of 2016. [Includes two data charts.]
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