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Inside The GSEs
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Realtors Ask FHFA to Reduce Fannie/Freddie G-Fees and LLPAs, Citing the New Tax Law

February 2, 2018
The National Association of Realtors this week asked the regulator of Fannie Mae and Freddie Mac to lower the MBS guarantee fees charged by the two government-sponsored enterprises, citing lower corporate tax rates ushered in under the Tax Cuts and Jobs Act.
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GSE Credit-Risk Transfers Slowed Significantly in 4Q17

February 2, 2018
John Bancroft
Fannie and Freddie issued just $2.01 billion of structured credit notes during the fourth quarter, a sharp 44.5 percent drop from the previous period…
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NAR Wants FHFA to Reduce G-Fees, LLPAs

February 2, 2018
Paul Muolo
The NAR request comes at a time of rising interest rates…
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What We’re Hearing: Interest Rate Armageddon? / Sucking Pond Water? / Tony Renzi’s February Surprise / A Raise for Ginnie Mae Staffers / Investors Unite Weighs in on the Corker Bill (Not Happy) / Mnuchin’s GSE Plan

February 2, 2018
Paul Muolo
Investors Unite is not happy...
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Nonbanks Reach Another MSR Milestone: A 43 Percent Market Share Among the Top 50

February 1, 2018
John Bancroft
The $3.42 trillion of servicing held by nonbanks was up 20.7 percent from December 2016…
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Housing Finance Reform Waits for the Democrats to Show Up. (Don’t Hold Your Breath)

February 1, 2018
Paul Muolo
Bill Maloni, a retired Fannie executive who’s been tracking the reform debate for years, believes the Corker bill, if enacted as is, eventually will place the secondary market in the hands of the megabanks.
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Corker’s GSE Bill Raises a Host of Questions. Five or Six MBS Guarantors Need to be Up and Running For it to Work

January 31, 2018
Paul Muolo
The FHFA would be tasked with maximizing profits on any asset sales by Fannie and Freddie, according to the Corker bill…
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PHH CEO Robert Crowl Gets a New Contract, Could Earn $2 Million-Plus This Year

January 31, 2018
Paul Muolo
Over the past two years, PHH has sold off large chunks of its MSR portfolio, while remaining as the subservicer of record…
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Industry Starts to Worry as Yield on the 10-Year Hits Yearly High; Insolvencies? PHH Falls to 52-Week Low

January 30, 2018
Paul Muolo
The only firms that are feeling overly bullish are nonprime shops such as Angel Oak and Citadel Servicing…
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Short Takes: Mnuchin Says Treasury Remains Committed to GSE Reform / The 30-Year FRM Must Survive / More Private Capital, Yes / Thomas Marano’s New Problem to Solve: Walter / After 25 Years, Exec Bolts PHH for Home Point

January 30, 2018
Carisa Chappell and Paul Muolo
Mnuchin said the 30-year FRM cannot survive without Fannie and Freddie...
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