Promoting affordable housing by recapitalizing Fannie Mae and Freddie Mac is the premise of a new study released this week by the Brookings Institution arguing that their conservatorship should come to an end. Obama administration officials have previously rejected such proposals. The paper noted that the Treasury Department’s sweep policy, which takes the bulk of Fannie’s and Freddie’s profits, limits the government-sponsored enterprises’ ability to promote homeownership and expand access to affordable home ownership, especially among low-income households. Robert Shapiro, former Brookings fellow, and chairman of Sonecon, LLC, along with Elaine Kamarck, a senior fellow at Brookings, said...
Wells Fargo once again ranked first among all GSE sellers with a market share of 15.3 percent in October, almost triple that of the number two ranked Quicken Loans.
The Federal Home Loan Bank system earned $484 million in the third quarter of 2015 and attributes the 23 percent year-over-year decrease to net losses on derivatives and hedging activities. But total net income for the first nine months of the year saw a 29 percent jump, to $2.18 billion, according to figures compiled by the system’s Office of Finance. This was driven by higher litigation settlements and net gains on derivatives and hedging activities. After falling flat last quarter, total FHLB assets from the end of June were up at the end of the third quarter by less than 1 percent to $919.6 billion.
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