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.”

The agency issued $92.58 billion in MBS backed by forward mortgages during the first three months of 2018.

Mark Garland, president of MountainView Servicing Group, Denver, reported that SRP prices are indeed strong these days. “Absolutely, it’s the best it’s been in years,” he said.