In what is largely an intellectual exercise, Federal Housing Finance Agency Director Mel Watt said last week that the agency will propose a new risk-based capital rule for Fannie Mae and Freddie Mac even though it won’t apply while they’re in conservatorship.
The Structured Finance Industry Group continues to work on getting MBS and ABS classified as “high quality liquid assets.” The industry group has renewed hope for the ongoing effort due to the recent passage of regulatory relief in Congress.
Fannie Mae and Freddie Mac don’t act like two companies in their 10th year of government conservatorship, waiting for federal policymakers to figure out what to do with them.
Fannie Mae and Freddie Mac issued a record $4.53 billion of new credit-risk transfer debt notes during the first quarter of 2018, according to an Inside MBS & ABS analysis. [Includes one data chart.]
The tailored Dodd-Frank reform bill signed into law by President Trump this month should be a boon to investors in Ginnie Mae securities because it will reduce loan churning, but there could be some bumps along the road until all the details are ironed out.
The Department of Veterans Affairs has issued guidance to VA program participants to ensure that all mortgage loans meet the requirements of the recently enacted Dodd-Frank Act reform law prior to endorsement.
The mortgage industry isn’t fully prepared to accept borrowers with income from the so-called gig economy, according to a survey by Fannie Mae. Nearly every mortgage executive surveyed reported that such income is difficult to approve when considering a loan application.
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