Although Wells Fargo officially exited the broker market two years ago, it apparently still does a tiny amount of business through the channel.

The senate panel is expected to ask questions on guaranty fees and the common securitization platform as well.

MIAC is out with a new $73 million Fannie package and MountainView and The Prestwick Group are working on transactions as well.

So, which groups are behind the "housing-industrial complex"? DeMarco isn't naming names...

Fannie Mae and Freddie Mac continued to trim their retained holdings of MBS and unsecuritized mortgages in keeping with their conservatorship mandate as the two government-sponsored enterprises each posted a profit during the third quarter of 2014. The two GSEs ended September with a combined $851.71 billion in mortgage-related holdings, down 2.4 percent from the previous quarter. Compared to a year ago, their combined mortgage portfolio was down 16.0 percent and down 46.5 percent from the $1.592 trillion the two firms held in the fourth quarter of 2008 shortly after being placed in government conservatorship. One of the conditions of the conservatorship the GSEs entered six years ago was...[Includes one data chart]

Through the first nine months of 2014, Freddie Mac securitized $7.0 billion of re-performing and modified single-family loans, a figure that towers over its crosstown rival Fannie Mae. Since 2011, Freddie has issued roughly $12 billion in securities backed by re-performing loans. So what’s Fannie’s problem in this area? That’s hard to say. A spokesman for the government-owned mortgage giant said the company has yet to undertake any securitizations of formerly delinquent loans, and isn’t sure if or when it will. Then again, Fannie – unlike Freddie – has...

Fannie Mae and Freddie Mac and the government-sponsored enterprise model are flawed beyond repair, so expect comprehensive housing finance reform to remain stalled until lawmakers and the chief executive take action, according to the former head of the Federal Housing Finance Agency. Speaking at an American Enterprise Institute forum this week, former FHFA Acting Director Edward DeMarco, now a housing fellow at the Milken Institute, said the structure of the GSE conservatorships and the Treasury support agreement backing them requires Congressional intervention. “The answer to the question ‘what happens next?’ is...

And there could be some good news on lower LLPAs. Fannie said that come May 2015, it will change how it treats loans where there are two or more borrowers...

Effective and lasting GSE reform cannot be accomplished without Congress taking decisive action and the housing finance market’s status quo is unsustainable in the long term, according to the former head of the Federal Housing Finance Agency. Speaking at an American Enterprise Institute forum late this week, former FHFA Acting Director Edward DeMarco warned attendees to expect comprehensive and lasting housing finance reform to remain stalled unless lawmakers pass a bill that the president will sign.

Expect GSE reform to remain a key focus of Congress following the mid-term election Republican takeover of the Senate and vast expansion in its House majority. However, industry observers warn that it remains to be seen whether focus will translate into legislative action during the 114th Congress as the new leadership structure remains in flux.