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GSE Shareholders Propose New Theory in Their Challenge To Net Worth Sweep Focusing on FHFA Constitutionality

August 10, 2018
Fannie Mae and Freddie Mac shareholders are working to make sure their cases against the government don’t get shoved aside after a string of adverse court decisions. Plaintiffs are looking to tweak their complaint to include a challenge based on a ruling in another case that the Federal Housing Finance Agency structure is unconstitutional.
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Short Takes: Fannie Warns About Fake Employers / Freddie Launches Rent Control Pilot / Affordability Worsens in CA / MBA Talks Industry Themes

August 10, 2018
Fannie Mae issued another fraud alert, this time warning lenders about 10...
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GSE Shareholders Propose New Theory in their Legal Challenge: the FHFA is Unconstitutional

August 9, 2018
Carisa Chappell
Legal argument: If the FHFA is unconstitutional, then the net worth profit sweep must be…
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House Subcommittee Plans Hearing on ‘Waste, Fraud and Abuse’ Allegations at the FHFA. The GSEs?

August 9, 2018
Carisa Chappell
There was no mention of Freddie Mac’s CEO, Don Layton.
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Bulk Servicing Sales Continue at a Brisk Pace. A Record Year?

August 9, 2018
Paul Muolo
IMA and MountainView expect to trade more product this year than last…
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Short Takes: Brother, Can You Spare $77.6 Billion? / If Things Get Rough, This is How Much Money I Might Need / Define ‘Severely Adverse’ Scenario / The Wells Fargo Mortgage Layoff Tally for July / Fannie Director Departs

August 8, 2018
Paul Muolo
But the bailout calculations – mandated under the Dodd-Frank Act Stress Tests – were not done by the FHFA.
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Nonbank Market Share of Ginnie MSRs: 59.9 Percent and Growing

August 7, 2018
John Bancroft
Wells Fargo’s agency servicing volume dropped by $9.4 billion…
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Lobbying on the GSE Issue Moves from Congress to the Executive Branch

August 7, 2018
Paul Muolo
Earlier this year, Treasury Secretary Steven Mnuchin told the Senate Banking Committee he has the authority to restructure Fannie and Freddie without any change in law.
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Secondary Market in Servicing Rights Gained Momentum in 2Q18

August 6, 2018
John Bancroft
In 2Q18, there was a huge increase in bulk Fannie MSR transfers…
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Treasury Gives Blessing to GSE Appraisal Waivers, More. But Moody’s Worries About AVMs

August 6, 2018
Carisa Chappell
The Treasury report acknowledges concerns from the appraisal industry but touts the benefits of using the waivers…
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