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Fannie/Freddie Regulator is Drawing More Attention in Waning Months of Watt’s Tenure

August 9, 2018
Mel Watt isn’t likely to ride quietly off into the sunset as his term as director of the Federal Housing Finance Agency draws to a close at the end of this year.
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House Subcommittee Plans Hearing on ‘Waste, Fraud and Abuse’ Allegations at the FHFA. The GSEs?

August 9, 2018
Carisa Chappell
There was no mention of Freddie Mac’s CEO, Don Layton.
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Mortgage Banking Income Fades at Banks

August 8, 2018
John Bancroft
Second-ranked JPMorgan Chase had a similarly disappointing quarter.
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Another Record Non-QM Production Quarter for Citadel. 2018 Production Could Top $1.8 Billion

August 8, 2018
Paul Muolo
At the end of July, Citadel serviced $1.75 billion of non-QMs…
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Redwood Reports Lower Earnings, but a Rise in Loan Purchases

August 8, 2018
Paul Muolo
At June 30, Redwood held $5.5 billion of residential loans on its books, up 40.6 percent from a year ago.
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Short Takes: Brother, Can You Spare $77.6 Billion? / If Things Get Rough, This is How Much Money I Might Need / Define ‘Severely Adverse’ Scenario / The Wells Fargo Mortgage Layoff Tally for July / Fannie Director Departs

August 8, 2018
Paul Muolo
But the bailout calculations – mandated under the Dodd-Frank Act Stress Tests – were not done by the FHFA.
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Nonbank Market Share of Ginnie MSRs: 59.9 Percent and Growing

August 7, 2018
John Bancroft
Wells Fargo’s agency servicing volume dropped by $9.4 billion…
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Lobbying on the GSE Issue Moves from Congress to the Executive Branch

August 7, 2018
Paul Muolo
Earlier this year, Treasury Secretary Steven Mnuchin told the Senate Banking Committee he has the authority to restructure Fannie and Freddie without any change in law.
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Treasury Gives Blessing to GSE Appraisal Waivers, More. But Moody’s Worries About AVMs

August 6, 2018
Carisa Chappell
The Treasury report acknowledges concerns from the appraisal industry but touts the benefits of using the waivers…
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Short Takes: Moving up the Search? / FHFA Watchdog Under Investigation? / No One is Commenting – or Denying / Politically Motivated? / Mangiaracina Gets Chairman’s Slot

August 6, 2018
Carisa Chappell and Paul Muolo
As of Monday morning, none of the parties involved – FHFA, the FHFA IG, and the Council – were commenting to IMFnews. Nor were they denying the existence of an investigation.
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