Three providers of D&O insurance refuse to pay legal costs associated with a financial crisis-era SEC investigation into Freddie underwriting and risk-management controls for troubled MBS.
By declining to hear the case of Rop v. FHFA, the Supreme Court effectively shut down shareholder hopes of ending the net worth sweep based on the constitutionality of the appointment of FHFA’s director.
GSE officials recently outlined the timeline for implementing the new credit score models and some of the challenges that implementation poses for mortgage industry stakeholders.
FHFA recently changed the upfront fees charged by Fannie and Freddie, in part to help meet the highly conservative capital requirements imposed on them by former Director Mark Calabria. Now, critics of the fees have joined critics of the conservatorship.
As the Biden administration focuses on ending discrimination in appraisals, trade groups and industry advocates call for standards on reconsiderations of value.
The GSEs say the spike in repurchase requests simply reflects the historic volume in 2020 and 2021. Lenders argue there should be something short of a repurchase request for performing loans with minor defects.