One REIT manager suggested that in time FHFA Director Mel Watt may move to eliminate the captive insurer/FHLB “loophole”…

It seems that GSE officials, to some degree, are trying to manage future expectations, but one thing is certain: guaranty fee income remains very strong.

Fannie Mae reported nice guaranty fee income in first quarter, but as one former GSE executive told us: “Their expenses are out of control.”

Should Fannie Mae and Freddie Mac increase the 25 basis point servicing fee they pay mortgage companies that service their loans? The issue was apparently raised by at least one mortgage executive at a recent advisory board meeting that Fannie held with some of its customers. Two servicing advisors with knowledge of the meeting confirmed the story, but few in the industry believe that any type of increase is being contemplated at this time. One major concern centers...

The Senate Banking, Housing and Urban Affairs Committee is expected to vote on the housing finance reform legislation next week, but there’s a growing consensus among industry observers that no amount of last-minute patchwork compromises will make the bill ready for a prime-time Senate vote. Many observers said last week’s abrupt announcement by Committee Chairman Tim Johnson, D-SD, and Ranking Member Mike Crapo, R-ID, to delay consideration of S. 1217 in order to gain more than the minimum 12 votes needed to clear the committee doomed the chances of getting the bill to the floor for a vote. A banking committee staffer told...

Fannie Mae and Freddie Mac together earned $9.3 billion in the first quarter, thanks largely to big settlements of lawsuits over non-agency mortgage-backed securities. Together, the two government-sponsored enterprises will have paid about $213.1 billion to the Treasury at the end of June, roughly $25.1 billion more than the $188 billion the two companies have drawn from the Treasury since being placed in government conservatorship. Freddie earned...

Before joining the FHFA in late 2011, Hornsby spent 26 years at the Federal Reserve Bank of San Francisco, the last 10 under Janet Yellen, who is now the nation’s central banker.

Sixth-ranked Freedom Mortgage Corp. bucked the overall trend with a 19 percent increase in TPO deliveries to the agencies.

“The first thing we found is that homeowners need to know that they’ve been assigned a trusted advisor who will help them navigate the work out process,” explained one Fannie Mae official.

CSP watchers say the GSE platform is starting to look like an orphan under director Mel Watt. But will Watt mention the project in his first public speech next week?