The Servicing Marketplace launched last year by Fannie Mae has had a good response so far. It was created to connect servicers and sellers during transfers, and there are already talks of enhancements in the near future.The program was in a pilot phase for the bulk of 2017, officially kicking off in December. The GSE designed the platform to support co-issue transactions, bringing sellers and servicers together to deliver pricing certainty and transparency, as well as efficiency. Loans delivered under whole loan servicing-released commitments taken on or after Dec. 4, 2017, are bifurcated if sellers participate in Fannie’s servicing execution tool or the servicing marketplace.

The Federal Housing Finance Agency is proposing to amend its regulations on the responsibility of the board, directors, corporate practices, and corporate governances for the GSEs and Federal Home Loan Banks. It also would apply the FHLB strategic business plans to Fannie and Freddie. This means that the GSEs’ boards would have a strategic business plan in effect at all times, which describes how the regulated entity will achieve its statutory purposes. Moreover, there’d be a provision that requires each GSE board to review the strategic plans annually, re-adopt it once every three years, at minimum, and...

Fannie Mae Announces New Board Member. Christopher Herbert was elected as a director on the company’s board of directors. The GSE noted that he has extensive experience relating to housing policy and urban development. He’s been managing director for Harvard University’s Joint Center for Housing Studies since January 2015. The Final Nail in the GSE Reform Coffin: Creation of the $3B Capital Buffer? Although GSE reform appears to be dead in the current Congress, Fitch Ratings issued a report Tuesday predicting that MBS guarantors created in the future to replace Fannie Mae and Freddie Mac will be on solid ground financially. As for why GSE reform failed, Fitch contends...

The upside for private MIs is that their purchase business started off 2018 at a more robust level than last year…

Wertheimer testified that during her tenure, the FHFA-OIG has issued 85 reports and made 117 recommendations to address supervisory shortcomings.

At his first appearance before Congress as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney restated his desire to reform the agency, while defending his leadership from Democrats’ harsh accusations that he is undermining the bureau.

With GSE reform all but dead, rumors about possible administrative changes abound...

Fitch said the $3 billion reserve should be sufficient to cover income volatility during “the normal course of business, as seen when interest-rate volatility results in valuation adjustments within the GSEs’ derivative portfolios.”

The nonbank locked $2.3 billion of purchase mortgages in March, up 52.0 percent from the prior month.

Mulvaney – a former GOP Congressman from South Carolina and a Tea Party acolyte – declared: “The Bureau’s new strategic priorities are to recognize free markets and consumer choice and to take a prudent, consistent, and humble approach to enforcing the law.”