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Home » Authors » Dennis Hollier

Articles by Dennis Hollier

Court of Claims Rulings Mixed in GSE Shareholder Cases

May 21, 2020
Dennis Hollier
Less than a week after dismissing the Arrowood case, Judge Margaret Sweeney released a previously sealed different decision in a related case.
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Calabria Defends FHFA’s COVID-19 Response

May 21, 2020
Dennis Hollier
Pushing back on the criticism, FHFA Director Mark Calabria said servicers appear able to withstand a substantially deeper economic downturn.
Read More

New Capital Rule Sets the Stage for GSEs to Exit Conservatorship

May 21, 2020
Dennis Hollier

Next stop: The Fannie/Freddie re-IPOs?


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Calabria Says Servicers Can Handle Forbearance Advances

May 19, 2020
Dennis Hollier

The FHFA's optimism is based on quarterly income, financial, and balance sheet statements that Fannie and Freddie receive from 346 MBS servicers...

 

 


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FHFA Closes Loophole in Forbearance Rules

May 19, 2020
Dennis Hollier

FHFA Director Mark Calabria: “Homeowners who are in COVID-19 forbearance but continue to make their mortgage payment will not be penalized. Today’s action allows homeowners to access record low mortgage rates and keeps the mortgage market functioning as efficiently as possible.”


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A Step Forward in the GSE IPO Process: RFPs Launched for Investment Advisors

May 18, 2020
Dennis Hollier

Fannie Mae: “The financial advisor will work closely with the company and the FHFA to consider business and capital structures, market impacts and timing, and available capital raising alternatives, among other items.”


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Freddie Forbearance Update Could Boost MSRs

May 15, 2020
Dennis Hollier

KBW believes the Freddie announcement could improve valuations for mortgage servicing rights “as the market reduces its expectations for potential servicing advance costs.” 


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PennyMac’s CRT Woes May Continue in 2Q

May 14, 2020
Dennis Hollier
Uncertainty regarding the performance of mortgages underlying its CRT in-vestments prompted PMT to boost the discount rate on its loans from just 5% at the end of the fourth quarter to about 11% as of March 31.
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SOFR Transition: GSEs Still on Pace, Fed, Not So Much

May 14, 2020
Dennis Hollier
Since March, spreads between SOFR and the three-month LIBOR have widened to roughly 80 basis points. The five-year average, which the ARRC recommends as a “spread adjustment,” is only 27 bps.
Read More

CECL: Fannie vs. Freddie

May 14, 2020
Dennis Hollier
The adoption of CECL left Fannie with a loss of $1.1 billion at the beginning of 2020; but it only cost Freddie $240 million.
Read More
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