Dennis Hollier

Audit Finds FHFA Unprepared to Regulate GSEs

March 13, 2020

According to the FHFA IG, the agency is still not adequately staffed to assess the safety and soundness of Fannie and Freddie.

Fannie and Freddie Crank Up Multifamily CRT

March 13, 2020

Dennis Hollier

Over the past six weeks, Freddie has issued eight multifamily offerings totaling $6.1 billion, and Fannie more than $10 billion.

Freddie Reports State-Level Housing Shortage

March 13, 2020

Dennis Hollier

Prior to the 2008 housing crisis, the supply of new housing units dipped below 1.25 million only once, in 1982. Following the crisis, the supply didn’t rise above 1.25 million until 2017.

Fed May Need to Buy More Than Treasuries and MBS

March 12, 2020

Dennis Hollier

Since the financial crisis, the Fed’s main policy tool has been to lower interest rates by purchasing Treasuries and agency MBS. However, with rates on these securities at record lows, this strategy may no longer work.

GSEs Accelerate Multifamily CRT

March 12, 2020

Dennis Hollier

Freddie has priced in excess of $8 billion in multifamily CRT so far in 2020 while Fannie has added more than $10 billion of MCIRT.

Industry Fights Hike in G-Fee to Fund Non-Housing Plans

March 12, 2020

Dennis Hollier

The industry has once again written to Congress requesting that guarantee fees be used only as originally intended: as a critical risk management tool to protect against potential mortgage credit losses.

Industry Groups Fight Proposed Increase in G-Fees

March 9, 2020

Dennis Hollier

The Trump administration has not only proposed extending the existing g-fee surcharge, but recommends doubling it. Not to be outdone, both Democratic presidential candidates, former Vice-President Joe Biden and Sen. Bernie Sanders, D-VT, also support raising g-fees.

FHFA Not Well-Staffed for Post-Conservatorship Role

March 5, 2020

Dennis Hollier

The FHFA’s inspector general has criticized the agency’s workforce planning process, particularly in the Division of Enterprise Regulation.

Repo Market Still Not Recovered from September Scare

March 5, 2020

Dennis Hollier

The New York Fed performed two separate repo market maneuvers on Tuesday: a $100 billion overnight operation and a $20 billion 14-day assignment. Both were oversubscribed.

Short Takes: Mortgage Rates and the Big Why / Treasuries, Not MBS / Tell Your LOs to Slow Down (No) / Sen. Warren’s Next Job? / Strong 4Q19 FHLB Earnings

March 5, 2020

Paul Muolo and Dennis Hollier

What sales manager in their right mind would tell their LOs to turn down business?

Dennis Hollier

ARTICLES

Audit Finds FHFA Unprepared to Regulate GSEs

Fannie and Freddie Crank Up Multifamily CRT

Freddie Reports State-Level Housing Shortage

Fed May Need to Buy More Than Treasuries and MBS

GSEs Accelerate Multifamily CRT

Industry Fights Hike in G-Fee to Fund Non-Housing Plans

Industry Groups Fight Proposed Increase in G-Fees

FHFA Not Well-Staffed for Post-Conservatorship Role

Repo Market Still Not Recovered from September Scare

Short Takes: Mortgage Rates and the Big Why / Treasuries, Not MBS / Tell Your LOs to Slow Down (No) / Sen. Warren’s Next Job? / Strong 4Q19 FHLB Earnings

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