On the heels of the Equifax data breach fiasco, the Federal Housing Finance Agency was deemed ineffective when it comes to supervising the GSEs on cybersecurity risks, according to a recent report from the agency’s Office of Inspector General.  In a previous report, the OIG asked the FHFA to examine policies about how Fannie Mae and Freddie Mac manage their cyber risks and address vulnerabilities. It noted that the GSEs store, process and transmit significant amounts…

The Federal Housing Finance Agency published two reports last week, including a 2018 annual performance plan for overseeing the GSEs and the FHLBanks in 2018, which includes talk of the common securitization platform.The performance plan supports the FHFA’s long-range strategic plan, also released last week, and includes goals, performance measures and targets, and strategies to accomplish those goals. The regulator is charged with three goals that center on safety and soundness of the regulated entities, along with ensuring liquidity and access in housing finance and managing the conservatorships. The goals and strategies haven’t changed much from the performance plan this year, other than the goal for the single security.

Freddie Simplifies Creation of Giant PCs. Late this week, Freddie Mac announced that it is adding new features to Dealer Direct, its online securitization portal, which will make it easier and faster for dealers to create customized Giant participation certificates. The new Dealer Direct Giant bulk upload feature allows dealers to upload proposed collateral for multiple Giants in a single collateral submission. A unique identifier is used to designate collateral for each Giant. Dealers also now have the option to upload a list of fixed-rate and/or adjustable-rate mortgage collateral without designating securities to specific Giants. Dealer Direct will analyze the individual securities and sort them into the largest possible Giant-eligible groups.

Roughly 25.6 percent of applications from blacks were denied last year, compared to 15.4 percent for whites.

Purchase-mortgage activity in the GSE market surged 21.5 percent higher in the third quarter – and Fannie recorded a whopping 35.9 percent jump in such business…

The interim final rule becomes effective on October 19…

Early last year Whalen predicted the nation’s four largest commercial banks might exit the business of residential lending and servicing…

Loans from Maryland and Indiana represent a majority of the collateral at 37 percent and 25 percent, respectively…

Houlihan as been a major player in mortgage-related deals ever since it purchased Milestone Partners earlier in the decade…

The conventional secondary market caught up with the seasonal surge in home-buying activity during the third quarter, leading to a hefty 17.9 percent jump in the production of Fannie Mae and Freddie Mac mortgage-backed securities. The two government-sponsored enterprises issued $223.61 billion of single-family MBS during the recently completed third quarter, a new Inside Mortgage Finance analysis reveals. Although that was the strongest ... [Includes three data charts]