Dennis Hollier

Are GSE Fees on Early Forbearance Loans Misguided?

July 31, 2020

Urban Institute researchers estimate the 7% fee the GSEs charge to purchase loans that have gone into forbearance after closing squeezes 255,000 creditworthy borrowers out of the market.

House Dems Ask Calabria to Pause New GSE Capital Rule

July 31, 2020

Dennis Hollier

Democratic lawmakers said the re-proposed capital rule could adversely affect access to credit for borrowers of color and lower income individuals. Also, they said quickly recapitalizing the GSEs in the midst of a public health crisis might interfere with the nation’s economic recovery.

FHFA Proposes Retaining Existing Housing Goals for GSEs

July 31, 2020

Dennis Hollier

Pointing to unemployment rates that reached 14.7% in April, and a 7.3% decline in consumer expenditures in March, FHFA is simply acknowledging the obvious: The U.S. economy has entered a recession of unprecedented depth and unknown duration.

Layton Says FHLBs Should Not Allow New Entrants

July 31, 2020

Dennis Hollier

Although the FHLBanks market themselves as local lenders, this image doesn’t match their operations. Ten of the nation’s largest commercial banks account for about 30% of FHLBank advances.

Fed Says QE4 Is Working

July 31, 2020

Dennis Hollier

When panic first set in over the economic impact of COVID-19, investors sold off historically large volumes of MBS and Treasuries. As a result, liquidity and pricing efficiency both took a beating. It was the Fed’s gluttonous appetite for these securities that brought markets off the cliff.

Freddie Prices Multiple Multifamily Deals

July 31, 2020

Dennis Hollier

K-deals totaling more than $2 billion hit market.

WFS: Investment-Property Pools a Safe Harbor for Investors

July 30, 2020

Dennis Hollier

The economic effects of the pandemic have slowed refi activity for investment properties. That, in turn, has dampened prepayment speeds for 100% investment-property pools, Wells Fargo Securities said.

A $4.3 Billion 2Q Profit for the GSEs. COVID Charges Decline

July 30, 2020

Paul Muolo and Dennis Hollier

Thanks to a booming origination market, Fannie and Freddie posted strong earnings for the second quarter despite the economic carnage caused by the pandemic. Their capital positions also improved.

Former Freddie Chief Against Expanding FHLB Membership

July 30, 2020

Dennis Hollier

The “implied guarantee subsidy” that underpins the FHLBank operations is the reason why financial institutions of all kinds are clamoring for membership, according to former Freddie CEO Don Layton.

A Combined $4.3 Billion 2Q Profit for the GSEs. COVID-Related Charges Decline

July 30, 2020

Paul Muolo and Dennis Hollier

Fannie Chief Financial Officer Celeste Brown credited the recently adapted current expected credit loss (CECL) standard for the improved showing because the mortgage giant now looks at lifetime losses whereas before it would have just looked ahead two years.

Dennis Hollier

ARTICLES

Are GSE Fees on Early Forbearance Loans Misguided?

House Dems Ask Calabria to Pause New GSE Capital Rule

FHFA Proposes Retaining Existing Housing Goals for GSEs

Layton Says FHLBs Should Not Allow New Entrants

Fed Says QE4 Is Working

Freddie Prices Multiple Multifamily Deals

WFS: Investment-Property Pools a Safe Harbor for Investors

A $4.3 Billion 2Q Profit for the GSEs. COVID Charges Decline

Former Freddie Chief Against Expanding FHLB Membership

A Combined $4.3 Billion 2Q Profit for the GSEs. COVID-Related Charges Decline

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