Meaningful housing finance reform that would include “fixing” Fannie Mae and Freddie Mac, rather than euthanizing them outright, is still possible in 2014 and doesn’t require Congressional action, according to an expert speaking on the topic this week on Capitol Hill. Speaking at a government-sponsored enterprise forum sponsored by Investors Unite, Joshua Rosner, managing director at Graham Fisher & Co., said that GSE reform should consist of repurposing rather than eliminating Fannie and Freddie. “We shouldn’t reinvent...

The Federal Housing Finance Agency is set to take a comprehensive view of the impact any changes to the government-sponsored enterprises’ guaranty fees would have on the MBS market. Late last week, the regulator issued a “request for input” on the g-fees charged by Fannie Mae and Freddie Mac, prompting speculation that any changes to the fees won’t be implemented until 2015. The FHFA noted that the GSEs’ g-fees have increased from an average of 22 basis points in 2009 to 55 bps in 2013. The increases have been prompted by the FHFA along with Congress and changes made by the GSEs. Because of loan-level pricing adjustments – which in nearly all cases are rolled into the mortgage coupon – g-fees vary...[Includes one data chart]

A North Carolina federal judge announced from the bench this week he is considering dismissing a Justice Department fraud case against Bank of America, citing a less than overwhelming preponderance of evidence. U.S. District Judge Max Cogburn said during a hearing that he is leaning toward shutting down the DOJ’s case as per the March recommendation of U.S. Magistrate Judge David Cayer, who found that the Justice Dept. has failed to prove the bank made “material” false statements to the Federal Housing Finance Board. “DOJ may not have...

The amendment would prohibit the GSEs from channeling cash to the NHTF, which was established under the Housing and Economic Recovery Act of 2008.

“I’m tired of having the AMC acting as my pimp," said one appraiser. "The current situation is ruining the appraisal profession and turning appraisers into whores for the AMCs."

Rosner of Graham Fisher & Co. also wants to see the use “stringent methods” to price guarantees separate from the GSE's.

We’re hearing unconfirmed reports that the Federal Housing Finance Agency may not hire a chief executive and chairman for the common securitization platform project after all…

How much stock to insiders at Fannie Mae and Freddie Mac actually own?

Among the 12 questions that the FHFA asks the public to consider is this: “If the enterprises [Fannie Mae and Freddie Mac] continue to raise g-fees, will overall loan originations decrease?”

Agency issuance of new single-family MBS edged up slightly from April to May, according to a new Inside MBS & ABS analysis of loan-level data. Fannie Mae, Freddie Mac and Ginnie Mae produced a combined $68.66 billion of new MBS last month, although that was only a 2.4 percent increase over April. There are some positives in the underlying data, however. First, purchase-mortgage volume increases outpaced...[Includes two data charts]