Dennis Hollier

GSEs Can Be Downgraded If Government Support Shrinks

April 19, 2019

Moody's and Fitch say there is a possibility that Fannie's and Freddie's ratings could be downgraded if government support for the two mortgage giants is reduced through housing-finance reform.

Warren-Tillis Bill Hopes to Enforce GSE CEO Salary Caps

April 19, 2019

Dennis Hollier

New legislation has been introduced in response to an FHFA OIG report that Fannie and Freddie circumvented the rule of law with respect to CEO salary caps.

New FHFA Chief Calabria Places Urgency on Reforms

April 19, 2019

Dennis Hollier

At his swearing-in ceremony, FHFA Director Mark Calabria stressed the urgency of bringing GSE reforms, citing the vulnerability of the housing-finance sector.

Short Takes: Standing Room Only / Respect the Caps Bill Introduced (Has Nothing to do with Hockey) / Signs of Life in Warehouse Lending / Radian Director Won’t be Back

April 15, 2019

Paul Muolo and Dennis Hollier

Thanks to lower rates, warehouse providers are seeing signs of life once again...

New FHFA Chief Calabria Sees a Sense of ‘Urgency’ on GSE Reform

April 15, 2019

Dennis Hollier

Calabria: “There is much work to do. Markets change and advance. So must we.”

Calabria Confirmation and Administrative Reform

April 10, 2019

Dennis Hollier

The changed, partisan confirmation process for the new FHFA director has decreased the chances for Congressional action on housing-finance reform.

Mortgage Grapevine: It’s Official: Calabria in at FHFA; Citadel Coming off a Strong 1Q19; CLO Outlook?

April 5, 2019

Dennis Hollier and Paul Muolo

Late Thursday, the Senate voted to approve Mark Calabria as the permanent director of the Federal Housing Finance Agency by a vote of 53 to 44 along party lines. A few senators did not cast ballots. But don’t look for this free-market economist to quickly make radical changes to how Fannie Mae and Freddie Mac operate. The first thing to watch is whether Calabria allows them to build more capital…Non-QM lender Citadel Servicing Corp., Irvine, CA, originated $475 million in ...

MBS Backed by Modified Loans Ideal for CMO Deals

April 5, 2019

Dennis Hollier

It may seem counterintuitive, but MBS backed by reperforming loans, and thus not eligible to be traded in the to-be-announced market, are the ideal assets in collateralized mortgage obligation deals. According to a report from Stifel’s fixed income strategy division, the reason is simple — most modified loans are unlikely to be refinanced as they have “a unique and desirable prepayment profile.” Borrowers with modified loans have already had their rates dramatically reduced. They're unlikely to ...

Senate Confirms Calabria as Next FHFA Director. His First Move?

April 5, 2019

Paul Muolo and Dennis Hollier

The vote was 52 to 44, along party lines...

Otting Says GSE Capital Rule Expected This Summer

April 5, 2019

Dennis Hollier

Joseph Otting, acting director of the Federal Housing Finance Agency, set the rumor mills in motion last week when he told an audience at George Mason University Law School that the agency would finish work this summer on final capital rules for Fannie Mae and Freddie Mac.

Dennis Hollier

ARTICLES

GSEs Can Be Downgraded If Government Support Shrinks

Warren-Tillis Bill Hopes to Enforce GSE CEO Salary Caps

New FHFA Chief Calabria Places Urgency on Reforms

Short Takes: Standing Room Only / Respect the Caps Bill Introduced (Has Nothing to do with Hockey) / Signs of Life in Warehouse Lending / Radian Director Won’t be Back

New FHFA Chief Calabria Sees a Sense of ‘Urgency’ on GSE Reform

Calabria Confirmation and Administrative Reform

Mortgage Grapevine: It’s Official: Calabria in at FHFA; Citadel Coming off a Strong 1Q19; CLO Outlook?

MBS Backed by Modified Loans Ideal for CMO Deals

Senate Confirms Calabria as Next FHFA Director. His First Move?

Otting Says GSE Capital Rule Expected This Summer

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