The regulator’s financial statements followed GAAP accounting, but the analysis also revealed $32.9 million in costs associated with elimination of 216 employees.

CSS takes over MBS disclosures; Calabria joins PCAOB; Treasury/Fannie veteran joins HPC.

Some critics argue that forcing Fannie Mae and Freddie Mac to intervene in the mortgage-backed securities market may indicate their recapitalization and release from conservatorship is now on hold.

With the administration considering ways to address affordability, industry trade groups suggested adjusting policies at the GSEs. There’s also debate between MBA and CHLA on credit scoring practices.

Testimony from both liberal and conservative housing industry observers questioned the Trump administration’s policy regarding the future of Fannie and Freddie.

The trade group argues that a likely shift to a single-bureau credit pull may not actually lower rates and could add risk to the system.

The president wants Fannie and Freddie to buy $200 billion in agency MBS to lower interest rates and reduce the cost of buying a home. Initial reaction from MBS analysts was mixed.

Housing advocates say the new, lower benchmarks generally favor middle- and working-class borrowers at the expense low-income and very low-income borrowers.

A negative profitability gap means the guarantee fees on newly acquired loans weren’t enough to cover the expected cost of guaranteeing the loans and earning the expected return on capital.

Researchers tell Congress that, despite the role the FHLBanks played in the bank failures of 2023, a higher level of FHLBank borrowing has historically been associated with positive outcomes for members.