Fannie Mae CEO Hugh Frater violated conflict of interest rules not once but at least three times, according to the Federal Housing Finance Agency’s Office of Inspector General.
Veteran stock analyst Richard Bove upgraded the common shares of Fannie and Freddie to “hold” from “sell.” Last week, analyst Bose George had downgraded the stocks to “underperform.”
Independent mortgage bankers continue to argue that GSE caps on risk-layering and limits on mortgages for second homes and investment properties will harm borrowers and lenders alike.
A district court in Louisiana granted a motion to dismiss claims against some defendants in an antitrust case involving bonds issued by Fannie Mae and Freddie Mac.
Mat Ishbia, the CEO of the nation’s largest table-funder United Wholesale Mortgage, said FHFA limits on GSE purchases of second home and investment property mortgages are already adding to consumer costs.
Anxiety builds over when and what the Supreme Court rules on the constitutionality of FHFA and whether investors should be recompensed for the net worth sweep.
FHLBank members continued to reduce their borrowings, from $806.94 billion in the first quarter to just $422.64 billion in the last three months of the year. (Includes two data charts.)
KBW analysts believe it will take 15 years for the two government-sponsored enterprises to meet FHFA’s capital requirement to exit conservatorship. KBW reduced its target price on Fannie and Freddie stocks to $1.00 each.
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