As reported by IMFnews, the FHFA has yet to appoint a permanent chief executive and chairman for the CSP, formally known as Common Securitization Solutions.
So, what’s the biggest impediment to mortgage volumes taking off this spring? According to a new poll from Inside Mortgage Finance, it’s a lack of housing inventory.
There is a tradeoff between taking on more higher-risk loans and raising g-fee prices, FHFA official Bob Ryan noted, and the calculation has to take into account other players in the market, such as the FHA.
The new director of the Federal Housing Finance Agency wants to set a path for Fannie Mae and Freddie Mac with less emphasis on shrinking the two GSEs and a greater focus on “the present.” In his first major policy speech, FHFA Director Mel Watt told a packed room at the Brookings Institution how he seeks to “reformulate” the agency’s past conservatorship goals for the GSEs. “Our task is to continue to fulfill our statutory mandates, to execute our strategic plan and to manage the present status of Fannie Mae and Freddie Mac,” said Watt.
Sources contend that three other top executives also have left Nationstar Mortgage. At press time, Nationstar’s media department had not returned telephone calls and emails on the matter.
Legislation introduced earlier this month by Sen. Elizabeth Warren, D-MA, to facilitate refinance options for struggling student loan borrowers could negatively affect existing student loan ABS trusts while benefitting certain kinds of bonds at the expense of others, according to Wall Street analysts that closely follow the space. Overall, it’s considered a negative. The good news is, the legislation isn’t expected to be enacted this year. The bad news is, other similar measures are expected to emerge after the November elections. Introduced May 6, 2014, S. 2292, the “Bank on Students Emergency Loan Refinancing Act,” would permit...
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