For the most part, several different factions of the mortgage industry have applauded the move by the Federal Housing Finance Agency to allow Fannie Mae and Freddie Mac to build some type of capital buffer. Now comes the hard part: the details. Early this week, FHFA Acting Deputy Director of the Division of Conservatorship Bob Ryan said in a speech that the capital buffer plan would entail a delay of dividend payments to the U.S. Treasury Department – not an elimination of them. No other specifics were provided...
The Financial Services Roundtable recently called for enacting comprehensive housing finance reform, including reform of the FHA’s single-family mortgage insurance program while focusing the agency’s mission on first-time and low- and moderate-income borrowers. The FSR’s call came in a detailed response to President Trump’s executive order earlier this year directing the Treasury Department to conduct an assessment of financial regulations. For starters, the trade group urged...
Craig Phillips, counselor to the Treasury secretary, recently spoke about the importance of credit-risk transfers, the role of private capital in the mortgage market and burdensome regulations. During a credit-risk transfer symposium in New York City earlier this week, he said it’s important to grow participation in the government-sponsored enterprises’ CRT programs. “Every dollar of risk today is a dollar less of taxpayer risk,” said Phillips. “In my view we should continue...
This fall will mark – unless there’s divine intervention or a Kumbaya moment in Washington – the ninth anniversary of the federal takeover of Fannie and Freddie.
The VA panel presented several “egregious loan” scenarios involving reviews of several mortgages from 2016 in which lenders were required to sign indemnification agreements.
The plan to raise the standard has been met with hostility by many in the residential real estate industry, said Matthew Pointon, an economist at Capital Economics.
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