Treasury, FHFA Hike Allowable Retained Capital at the GSEs September 30, 2019 Dennis Hollier The hike in the retained earnings threshold was widely anticipated and the news hardly budged the share price of Fannie/Freddie common.Read More
FHFA Settles Sexual Harassment Case Involving Former Director. Details Lacking September 27, 2019 Dennis Hollier Neither Simone Grimes nor FHFA released the details of the settlement. Mel Watt, whose term as director ended in January, has not commented.Read More
What We’re Hearing: The (Mortgage) IPO Dream / Uber and Lyft May Never Earn a Dime / GSE Legislation During the Lame Duck Session? / Cashing out of Fannie and Freddie / The New Wells CEO: No Mortgage Experience September 27, 2019 Paul Muolo One of the biggest speculative bets ever made in mortgage stocks is going on right now: Fannie and Freddie...Read More
FHFA Chief Calabria Keeps a Close Watch on G-Fees, More September 27, 2019 Paul Muolo In late 2018, the FHFA published a report on g-fees paid from 2013 to 2017, stratifying it by five different lender cohorts…Read More
Short Takes: Judging GSE Pilot Programs / Freddie Mum on the Exact Size / Warehousers Have Entered the Sector / Significant Changes at FHA Unlikely / Pointillist? September 26, 2019 Paul Muolo Freddie Mac declined to say how much credit it had extended under the pilot, though a spokesman said it was under $1 billion. Read More
Servicing Tied to MBS Up in 2Q19. Bank Portfolios Grow September 26, 2019 John Bancroft Combined, Fannie Mae, Freddie Mac and Ginnie Mae accounted for 63.0% of total home mortgage debt outstanding at the end of June. Read More
Short Takes: Another Record Quarter for Angel Oak / Former PrimeLending Official Joins AO / The CFPB Staffs Up / If the QM Exemption Goes Away / New Hires for loanDepot, M&M September 25, 2019 Paul Muolo If the QM "patch" disappears as scheduled in early 2021, some lenders might see originations plummet. At least, that's the fear...Read More
A Republican White House Comfortable With an ‘Explicit’ Guarantee on Agency MBS September 25, 2019 Paul Muolo When it comes to MBS guarantees, it would be a pay-as-you-go system...Read More
Short Takes: About That QM Patch… / A Safety and Soundness Issue? / Overpaid Loan Officers? Say It Ain't So, Joe / ACUMA Pulls the Plug on Media Coverage / The CFPB and the Ability to Fire (Its Director) September 24, 2019 Paul Muolo and Yemeng Yang Industry consultant Joe Garrett wonders about LO pay on "easy" loans...Read More
GSE Underwriting Systems a Factor in QM ‘Patch’ Debate September 24, 2019 Brandon Ivey Some are calling for the GSEs’ automated underwriting systems to be used after the QM patch expires to determine whether a mortgage is a QM.Read More
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