FHFA's Mel Watt: "While it is apparent that a draw will be necessary for each enterprise if tax legislation results in a reduction to the corporate tax rate, FHFA considers the $3 billion capital reserve sufficient to cover other fluctuations in income in the normal course of each Enterprise’s business.”
While combined GSE servicing still accounted for a hefty 44.9 percent of single-family mortgages, it has continued to drift lower over the course of 2017…
Mel Watt continued: “We, therefore, contemplate that going forward enterprise dividends will be declared and paid beyond the $3 billion capital reserve in the absence of exigent circumstances.”
Beginning in tax year 2018, a deduction won’t be allowed for interest paid on home-equity loans unless proceeds from the loan are used to improve the residence…
The FHFA noted that if another credit scoring model is introduced, the entire mortgage finance industry will incur increased operation and transition costs…
Guaranteed Rate, long the subject of sale rumors, has agreed to sell a chunk of the company to private equity firm Thomas H. Lee Partners, fueling speculation that in time the rest of the nonbank might be placed on the auction block.
Washington Analysis believes the FHFA/Treasury move is a “clear positive for shareholders in the GSEs, particularly holders of junior preferred shares..."
It’s been an ugly year for retail chain bankruptcies, which means investors in commercial MBS backed by such properties are continuing to feel queasy about some of the bonds they own.
The number 15th ranked Fairway Independent Mortgage wouldn’t provide a hiring estimate but CEO Steve Jacobson said, “We’re always open minded about opportunities.”
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