Some Democrats are concerned that FHFA nominee Mark Calabria isn’t the best person to chart the GSEs’ future course. A full Senate confirmation of Calabria could take several months, though.
With Michael Bright at the helm, the Structured Finance Industry Group plans to focus on policy issues and on strengthening ties with key members of government and regulatory bodies.
Despite a sharp rise in the fourth quarter, issuance of commercial MBS for the whole of 2018 declined 6 percent. Agency multifamily MBS continued to dominate the overall CMBS market. [Includes one data chart.]
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.
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