Dennis Hollier

Calabria Contemplates Allowing Nonbanks Into the FHLB System

November 15, 2019

It would be a radical change, but the FHFA may allow nonbank mortgage firms to become FHLB members, giving them access to advance window...

Experts Argue Treasury Plan Endangers GSE Cross-Subsidies

November 15, 2019

Dennis Hollier

Treasury claims the GSEs’ unfair advantage is because of their capital treatment. Urban Institute researchers say it’s because of the government backstop of their credit risk.

Climate Change, Wildfires and the Risks Posed by the GSEs

November 15, 2019

Dennis Hollier

Over the last decade, the U.S. has averaged nearly 56,000 wildfires a year, covering more than 6.5 million acres, and destroying thousands of homes. The problem is acute enough that discussions are underway to create a reinsurance market for wildfire damage.

Court Orders Treasury to Produce Documents in Fairholme Case

November 15, 2019

Dennis Hollier

A District Court judge ordered the Treasury Department to produce all documents attached to subpoenas. He also asked the Treasury to produce a log of any documents withheld based on an assertion of privilege.

FHFA Considering Nonbank Membership in FHLB

November 14, 2019

Dennis Hollier

Hinting at the possibility of allowing nonbanks to become members of the FHLBank system, FHFA Director Mark Calabria said the agency could engage in rulemaking by mid next year.

Calabria Hints at End Date for Conservatorships

November 14, 2019

Dennis Hollier

FHFA Director Mark Calabria said to exit conservatorship Fannie Mae and Freddie Mac will have to be adequately capitalized and make appropriate changes to their culture.

Short Takes: More from FHFA on GSE Compensation / Lobby Congress? Yes, Eventually / An Improving Picture for HECM Insurance / A Promotion at MGIC

November 14, 2019

Dennis Hollier, Paul Muolo, and George Brooks

FHFA Director Mark Calabria: "That might be fine for a normal company, but these are companies that are in conservatorship. They’re essentially in bankruptcy.”

Freddie Hires McKinsey, But Not for What You Think

November 14, 2019

Dennis Hollier

Contrary to recent reports, McKinsey will not help Freddie develop a plan to exit conservatorship. The contract is a routine part of stress testing.

Grapevine: Ocwen’s MBS Exposure / Good News on the FHA Front

November 14, 2019

Paul Muolo and Dennis Hollier

Ocwen Financial may have some MBS-related exposure, according to a new regulatory filing. Also, FHFA Director Mark Calabria opens up some more about the business practices of Fannie and Freddie.

FHFA Chief Calabria Hints at End Date for GSE Conservatorships

November 14, 2019

Dennis Hollier

Calabria stressed the plan is process-based rather than calendar-driven. He also pointed out that the two mortgage giants will have to be adequately capitalized and make appropriate changes to their culture.

Dennis Hollier

ARTICLES

Calabria Contemplates Allowing Nonbanks Into the FHLB System

Experts Argue Treasury Plan Endangers GSE Cross-Subsidies

Climate Change, Wildfires and the Risks Posed by the GSEs

Court Orders Treasury to Produce Documents in Fairholme Case

FHFA Considering Nonbank Membership in FHLB

Calabria Hints at End Date for Conservatorships

Short Takes: More from FHFA on GSE Compensation / Lobby Congress? Yes, Eventually / An Improving Picture for HECM Insurance / A Promotion at MGIC

Freddie Hires McKinsey, But Not for What You Think

Grapevine: Ocwen’s MBS Exposure / Good News on the FHA Front

FHFA Chief Calabria Hints at End Date for GSE Conservatorships

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