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Inside The GSEs
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Treasury, FHFA Argue No Need for a Rehearing in Fifth Circuit GSE Shareholder Case

September 21, 2018
The Federal Housing Finance Agency and Treasury Department have asked the U.S. Court of Appeals for the Fifth Circuit to not entertain a rehearing in the Collins v. FHFA government-sponsored enterprise shareholder case.
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Who Needs the Fed? Plenty of Investors Willing to Pick Up the Central Bank’s (MBS) Slack

September 20, 2018
John Bancroft
The central bank could lose its kingpin status if commercial banks continue buying…
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Brian Brooks, a Possible Successor to Fannie CEO Mayopoulos, Departs

September 20, 2018
Paul Muolo
Brooks was vice chairman of OneWest Bank, a depository once owned by current Treasury Secretary Steven Mnuchin.
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Surprise: Non-Agency Option Dings GSE Conforming-Jumbo Business

September 20, 2018
John Bancroft
More conventional loans that fit under the GSE loan limits for high-cost markets are ending up in non-agency mortgage-backed securities…
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Tough Times, but Wells Fargo Expects to Gain Lending Market Share

September 20, 2018
Brandon Ivey
Wells SVP John Shrewsberry: “In first mortgage, I would say, we should outperform whatever the market is delivering…”
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Short Takes: Freddie Talking to Potential MSR Borrowers / Fannie’s New HLTV Refi Option / Plenty of GSE-Eligible Loans in New JPM MBS / LendingTree’s $10k Prize / A New Director at Fannie Mae

September 19, 2018
Paul Muolo and Brandon Ivey
On Nov. 1, Fannie Mae will begin accepting applications for its new high loan-to-value ratio refinance product.
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A Surge in Jumbo Correspondent Acquisitions

September 19, 2018
John Bancroft
Jumbo production by correspondent lenders increased by 63.7 percent on a sequential basis…
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Watt Accuser at the FHFA Seeks Senate Hearing on Sexual Harassment Allegations

September 18, 2018
Carisa Chappell
In late July, Director Watt issued a statement saying he had not “done anything contrary to law.”
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FHFA IG Critical of Fannie Mae Consolidation Play in Northern VA

September 18, 2018
Carisa Chappell
The IG says four officials in the FHFA’s Division of Conservatorship told investigators that Fannie did not face an “action forcing” event…
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What’s the Fate of ‘GSE Patch’ Under ATR Rule? Some Options

September 17, 2018
The CFPB should drop the current debt-to-income ratio cap and the so-called GSE patch from the qualified-mortgage definition, the Urban Institute recommends. The CFPB is required by statute to review the ability-to-repay rule, which includes the QM definition, and issue a final report on its findings by Jan. 10, 2019. One of the most important elements of the review could be the fate of the “GSE patch,” which is set to expire in January 2021, or on the day ...
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