Treasury recommends Congress authorize Ginnie Mae to provide “last position” guarantee on MBS backed by conventional and multifamily home loans as well as give it the flexibility to adjust its guarantee fee.
Late this week, the Treasury Department unveiled its long-awaited plan to revamp the mortgage market. There were no huge surprises but Treasury wants “explicit” backing for the agency MBS market.
Late Thursday, the Senate voted to approve Mark Calabria as the permanent director of the Federal Housing Finance Agency by a vote of 53 to 44 along party lines. A few senators did not cast ballots. But don’t look for this free-market economist to quickly make radical changes to how Fannie Mae and Freddie Mac operate. The first thing to watch is whether Calabria allows them to build more capital…Non-QM lender Citadel Servicing Corp., Irvine, CA, originated $475 million in ...
Industry participants fleshed out details of a housing-finance reform outline at two days of Senate hearings this week. They were divided, though, on whether an overhaul of the government-sponsored enterprises is even necessary, let alone what type of reforms need to be completed.
The secondary mortgage market could be in for historic change in the wake of President Trump this week ordering the Treasury Department to end the conservatorships of Fannie Mae and Freddie Mac and come up with a new paradigm.
Any administrative overhaul of the government-sponsored enterprises could provide enough incentive for Congress to pass housing-finance reform legislation, according to industry participants.
Even though Mark Calabria backtracked on a decade of controversial comments about Fannie Mae and Freddie Mac at his confirmation hearing last week, his nomination to run the Federal Housing Finance Agency came out of the Senate Banking Committee with a 13 to 12, strictly party-line vote.
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