FHFA Director Sandra Thompson said the first test of its recently instituted new products rule went well, despite the relatively short timelines. But critics of Freddie’s new pilot also asked the agency to find ways to stretch out the opportunity to comment.
Researchers say strategic securitization by lenders exposes the GSEs to higher insurer counterparty risk, especially in regions with frequent climate-related disasters. The proposed cure: LLPAs and capital rules that compensate the GSEs for this risk.
Beginning July 1, the capital markets team at Freddie Mac will start offering multifamily giant PCs, products that will allow investors to pool larger securities and better manage their portfolios.
The new Federal Advisory Committee on Affordable, Equitable and Sustainable Housing includes a who’s who of housing finance experts, equitable housing advocates and industry representatives.
Stakeholders say the GSEs’ proposed definition of “first-generation homebuyer” in their equitable housing-finance plans unfairly excludes many of the people the enterprises and the FHFA want to help.
Sen. Elizabeth Warren, D-MA, has called for a significant increase in the FHLBanks’ required contribution to affordable housing. She also urged FHFA to change the membership eligibility requirements to encourage more housing and community development activities.
Freddie Mac CFO Christian Lown informed the board last week that he will step down at the end of this month. No reason was given for his departure, which was announced quietly via an SEC filing.
The Federal Housing Finance Agency has issued a request for information seeking industry comment on the GSEs’ plans to support underserved communities under their duty-to-serve obligations.
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