Before going into government service, Bright co-authored a housing-finance reform paper with former Federal Housing Finance Agency Acting Director Ed DeMarco…
Donald Lampe, a partner in Morrison & Foerster, said: “the basic design of the no-action letter process was not very effective from day one,” because of excessive burdens it imposed on applicants.
A new report from the Federal Reserve Bank of New York says the credit-risk transfer programs launched by Fannie Mae and Freddie Mac a few years ago have helped stabilize the mortgage securities market.
New York Attorney General Eric Schneiderman this week announced a $500 million settlement with Royal Bank of Scotland to resolve allegations of misconduct in the sale and issuance of non-agency MBS leading up to the 2008 financial crisis.
The White House this spring is expected to officially nominate Michael Bright, acting president of Ginnie Mae, to formally become the agency’s chief, according to industry officials
Issuers of MBS and ABS know that the reporting of the London Interbank Offered Rate could end in 2021, but there’s no clear plan at this point for how to address the issue.
Pacific Investment Management Co. over the past few weeks has been gobbling up large portfolios of reperforming mortgage loans, winning auctions by accepting lower returns.
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