Financial Regulators Finalize Swap Margin Rule June 25, 2020 Dennis Hollier Under the final rule, legacy interest rate swaps will remain valid even in the event the reference rate — typically LIBOR — has to be replaced.Read More
MBA Supports Expanding FHLB Membership to Include Nonbanks June 24, 2020 Dennis Hollier MBA suggests that mortgage-investing REITs also would benefit from the relaxation of the FHLB’s eligibility regulations...Read More
FHFA Once Again Expresses Its Desire to Examine Nonbank Seller/Servicers June 23, 2020 Dennis Hollier The FHFA is pushing for legislation that will allow it “to examine the records, operations and facilities” of all Fannie/Freddie servicers – an expansion of its supervisory role over nonbanks. Read More
Fed to Increase Agency MBS Holdings June 19, 2020 Dennis Hollier In his semiannual report to Congress on Tuesday, Fed Chair Jerome Powell described the MBS market as "vital to the flow of credit in the economy."Read More
Calabria Says Re-Proposed GSE Capital Rule Not So Different June 19, 2020 Dennis Hollier The FHFA director said he decided to re-propose the rule because it was important for the process to be “extremely transparent and open.”Read More
FHFA Drops Plan for Larger, Multi-Issuer UMBS Pools June 19, 2020 Dennis Hollier To promote the fungibility of the uniform MBS, Fannie and Freddie will more closely align how they evaluate their seller/servicers.Read More
Court of Federal Claims Winnows GSE Shareholder Lawsuits June 19, 2020 Dennis Hollier In each case, Chief Judge Margaret Sweeney’s decision hinged on whether the plaintiffs were pursuing direct or derivative claims.Read More
Quicken’s Peers Believe the Nonbank Can Pull Off an IPO June 19, 2020 Dennis Hollier The nonbank accounted for 7.7% of originations in the first quarter of 2020.Read More
FHFA Extends COVID-19-Related Policies June 19, 2020 Dennis Hollier GSEs extend moratorium on foreclosures and evictions until Aug. 31.Read More
Industry Veteran McCord Indicted for Bank, GSE-Related Fraud June 19, 2020 Dennis Hollier Ronald McCord, the former president of First Mortgage, faces 24 counts of bank fraud, money laundering and making a false statement.Read More