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FHFA Flips, Will No Longer Defend its Constitutionality

January 25, 2019
Dennis Hollier
The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
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Administrative Reforms Coming Soon? Probably Not

January 25, 2019
Paul Muolo
The Treasury Department continues to work on administrative changes for Fannie Mae and Freddie Mac that can be implemented by the Federal Housing Finance Agency, but a blueprint won’t see the light of day until sometime in the spring, if then.
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Fannie and Freddie Common On a Bull Run – to Nowhere

January 18, 2019
Fannie and Freddie common stock have been top performers, but with no resolution plan in sight for the GSEs, the rise seems speculative.
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GSE Patch Fate Undecided Despite Its Importance

January 18, 2019
Dennis Hollier
The uncertain fate of the “GSE patch,” which undoubtedly helped Fannie and Freddie boost market share, has industry watchers worried.
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More GSE Forbearance for Federal Employees?

January 18, 2019
With the government shutdown stretching into a month, rumors are the GSEs want enhanced forbearance for furloughed federal staff.
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JPM Packs GSE-Eligible Collateral into a $978 Million Non-Agency MBS

January 16, 2019
Brandon Ivey
Roughly 42 originators are providing collateral for the JPM MBS…
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GSE Market Shifted Toward Megabanks in 4Q18

January 16, 2019
John Bancroft
Chase’s secondary market patterns are typically herky-jerky…
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Private MIs Boost Share of Agency Purchase Loans

January 16, 2019
John Bancroft
The FHA share of insured purchase loans has been falling…
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Short Takes: Mr. Cooper Cuts Jobs in California / Blackstone’s Finance of America Unit Will Close Roseville Office / loanDepot Courting Wells Fargo LOs? / Freshman Socialist Will Sit on the HFSC / A New Hire for Nations Lending

January 16, 2019
Paul Muolo
Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.
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Short Takes: Worrying About What Mark Calabria Might Do / Ever Seated? / A Price War Brewing in Non-QM? / Tim Anderson’s Blockchain Job / Freddie Gets a New General Counsel

January 15, 2019
Paul Muolo and Dennis Hollier
We understand a bit of a price war may be brewing in the non-QM market...
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