The FHFA argues: "In contrast, other federal safety and soundness regulators have statutory authority to examine companies that provide services to depository institutions..."
The regulatory relief bill which last week became law makes changes to the CFPB’s ability-to-repay rule, and attorneys expect that more major changes will come from the bureau’s reassessment of the qualified-mortgage standards. The Economic Growth, Regulatory Relief, and Consumer Protection Act will allow financial institutions with less than $10 billion in assets to offer mortgages that don’t meet all the requirements of the QM rule, such as ...
Freddie Mac posted a big increase in its single-family mortgage-backed securities activity in April, reclaiming some market share from Fannie Mae, according to a new Inside The GSEs analysis of MBS disclosure data. Freddie issued $26.08 billion of single-family securities last month, a hefty 22.9 percent jump from March. [Includes two data charts.]
Housing-finance reform won’t happen in the near future and the government-sponsored enterprises are busy expanding their footprint instead of reducing it, according to lawmakers voicing concerns during a Senate Banking, Housing and Urban Affairs Committee hearing this week.
A key Treasury Department official said regulatory reform could help rejuvenate the non-agency MBS market but offered little guidance on the future prospects for Fannie Mae and Freddie Mac.