Dennis Hollier

PennyMac Issues First Fannie CRT Since April

December 10, 2020

The deal bears many of the characteristics of previous front-end credit-risk transfer deals that PennyMac entered into with Fannie Mae.

Freddie’s First SOFR-Indexed Bonds Backed by SOFR ARMs

December 10, 2020

Dennis Hollier

Freddie issued its first multifamily K-deal in which both the floating-rate bonds and the underlying mortgages are indexed to SOFR.

Does Net Worth Sweep Mean Nationalization of the GSEs?

December 10, 2020

Dennis Hollier

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.

SCOTUS Hears Oral Arguments in GSE Case, Breyer Cites ‘Nationalization’

December 10, 2020

Dennis Hollier

Justice Stephen Breyer raised eyebrows by characterizing the net worth sweep as a nationalization of the enterprises. “That’s what they did,” he said. “If you look at their giving the net worth to Treasury, it’s nationalizing the company.”

Waters Wants Trump-Era Housing Policies Rescinded

December 10, 2020

Dennis Hollier

House Financial Services Committee Chair Maxine Waters, D-CA, wants various rules and regulations introduced during Trump’s presidency to be rescinded or replaced.

Mnuchin Dampens Hope for an End to the GSE Conservatorships

December 4, 2020

Dennis Hollier

Treasury Secretary Steven Mnuchin suggested in a Senate hearing that Fannie and Freddie may not have enough capital to exit conservatorship before Trump leaves office.

Extending Moratoriums on Foreclosures a Costly Affair

December 4, 2020

Dennis Hollier

The FHFA has directed the GSEs to extend moratoriums on single-family foreclosures and real estate-owned evictions. The move is likely to cost the two mortgage giants between $1.1 billion and $1.7 billion.

No Surprise: Loan Limits Rise; Cui Bono?

December 4, 2020

Dennis Hollier

After the 2019 increase, homebuyers with newly eligible loans had an average income twice that of buyers whose loans were still eligible under the 2018 limit.

Last-Minute Brief Filed in Collins v. Mnuchin Case

December 4, 2020

Dennis Hollier

The Fifth Circuit found FHFA’s structure unconstitutional but decided the remedy was to simply toss the structure and leave the net worth sweep standing. The Supreme Court will now grapple with the two issues.

Senate Dems Push Calabria for More Affordable Refis

December 4, 2020

Dennis Hollier

Though both Fannie and Freddie exceed FHFA’s benchmarks for low-income refis, low-income borrowers actually accounted for a smaller share of the companies’ refis than they did for the market as a whole.

Dennis Hollier

ARTICLES

PennyMac Issues First Fannie CRT Since April

Freddie’s First SOFR-Indexed Bonds Backed by SOFR ARMs

Does Net Worth Sweep Mean Nationalization of the GSEs?

SCOTUS Hears Oral Arguments in GSE Case, Breyer Cites ‘Nationalization’

Waters Wants Trump-Era Housing Policies Rescinded

Mnuchin Dampens Hope for an End to the GSE Conservatorships

Extending Moratoriums on Foreclosures a Costly Affair

No Surprise: Loan Limits Rise; Cui Bono?

Last-Minute Brief Filed in Collins v. Mnuchin Case

Senate Dems Push Calabria for More Affordable Refis

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?