Since the election, Tozer has met with the Trump Department of Housing and Urban Development “landing team” once, for a 90 minute meeting that included Shawn Krause…
Treasury controls the senior preferred stock of the GSEs. The junior preferred and common continues to trade in the over-the-counter market and through private transactions. The latter two classes of stock are considered speculative in nature.
Commercial banks reduced their securitized servicing by 1.9 percent during the third quarter, though they still accounted for 52.5 percent of that market.
Fannie Mae and Freddie Mac are expected to launch a study of mortgage servicing in 2017 and research ways to reach underserved borrower groups, but the new “scorecard” for the government-sponsored enterprises doesn’t portend big changes in their credit-risk transfer programs or the emerging common securitization platform. The most significant new initiative in the 2017 scorecard released by the Federal Housing Finance Agency this week is a new project to assess the mortgage servicing business model. The language is somewhat vague and broad-reaching: “initiate a multiyear assessment of both the challenges facing the mortgage servicing market and potential solutions for identified issues.” The new game plan specifically mentions...