Republican members of the House Financial Services Committee are warming up another set of bills designed to "tie the hands" of Fannie Mae and Freddie Mac. Unveiled last week, the seven bills affecting the operations of the government-sponsored enterprises while they remain in conservatorship will be discussed during a hearing next week in the House Financial Services Subcommittee on Capital Markets and GSEs. "These seven bills were carefully designed to tie the hands of Fannie and Freddie so that they are no longer a drag on American taxpayers, a threat to our economic security and an impediment to private market growth and...

A proposed bipartisan bill that would dissolve Fannie Mae and Freddie Mac but retain an explicit government guarantee for certain mortgage-backed securities is either dangerously unfeasible or it's a measured way to preserve the government's role in housing finance, along with the 30-year mortgage, according to industry observers. Filed last late week, H.R. 1859, the Housing Finance Reform Act of 2011, would phase out the government-sponsored enterprises within five years and replace them with privately capitalized entities authorized to issue MBS that carry a government guarantee. The bill would empower the Federal Housing Finance Agency to issue...

The two sibling GSEs experienced a wildly divergent earnings period during the first quarter of 2011 as Freddie Mac posted its first quarterly gain in two years while big sister Fannie Mae announced losses that drove it even deeper into the red. [Includes one data chart.]

Two California members of the House, one Republican, one Democrat, have introduced a bill to extend indefinitely high-cost loan limits for Fannie Mae, Freddie Mac and the FHA due to expire this fall.

A federal appeals court last week upheld a lower court ruling that shareholders of Freddie Mac cannot sue the former directors and officers of the GSE for losses following the government takeover of Freddie by the Federal Housing Finance Agency.

Mortgage servicers should already be in the process of preparing to implement Fannie Mae and Freddie Mac's soon-to-be unveiled servicing requirements as the two GSEs work to roll out new rules in the coming weeks.

Lawmakers on a House subcommittee last week approved by a wide bipartisan margin a bill that would create a legislative framework for a covered bond market in the U.S. and, some critics contend, an unnecessary competitor to the Federal Home Loan Bank system.

Government housing policy and agencies played a much larger role in the housing crisis than initially believed, but a fresh look at the conclusions of two GSE critics has prompted a top JPMorgan Chase analyst to take the unusual step of issuing a public retraction.

A large investment portfolio intended to generate added earnings is inconsistent with the purposes of the Federal Home Loan Bank System and is a "misuse" of the system's preferential access to capital markets, the head of the FHLB’s regulator told Bank directors this week. [Includes one data chart.]

A bipartisan bill unveiled this week by two House members would overhaul the federal mortgage finance system to ensure private sector capital for homebuyers and capital requirements to protect taxpayers - without Fannie Mae or Freddie Mac.