The new PSPA will allow Freddie Mac and Fannie Mae to continue retaining earnings until they reach the regulatory minimum capital — almost $283 billion combined.
Justice Stephen Breyer raised eyebrows by characterizing the government’s net worth sweep of Fannie Mae and Freddie Mac profits as nationalization of the GSEs.
House Financial Services Committee Chair Maxine Waters, D-CA, wants various rules and regulations introduced during Trump’s presidency to be rescinded or replaced.
In testimony before lawmakers, both Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell stressed that time and care is needed to raise capital before the GSEs exit conservatorship.
FHFA Director Mark Calabria and Treasury Secretary Steven Mnuchin seem to have different motives to take the GSEs out of conservatorship. However: Will they be able to reach an agreement soon?
Although FHFA claims to have taken steps to improve its supervisory prowess, no signs of those improvements are apparent, the agency OIG said in its semi-annual report to Congress.
The industry was not expecting the FHFA to give ground on 4% Tier I capital for Fannie and Freddie. Now for the big question: What does it mean for lenders?
Andrew Bon Salle, who runs Fannie’s single-family business, will be leaving later this year. Also, several other key GSE executives are planning departures, according to former and current staff.
The payment deferral option will go a long way in providing a much more seamless way for borrowers to get back on track in paying their mortgages, according to the CEOs of Fannie and Freddie.
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