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Volume 18 - Number 11

May 25, 2018

Watt Frustrated Conservatorship Hindering GSE Future Planning

Federal Housing Finance Agency Director Mel Watt said one of the challenges of being in a decade-long conservatorship is the inability to make strategic decisions on everyday operations. And it doesn’t look like that problem will be solved anytime soon. During a Senate Committee on Banking, Housing and Urban Affairs hearing this week, he said the decision to relocate Fannie Mae’s headquarters is an example of trying to make decisions for the GSEs amid an uncertain future. “Without looking somewhat down the road, FHFA and the enterprises would both lose their momentum and jeopardize day-to-day success.

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Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.


The wholesale/table funder. They’re taking the financial risk.


The broker, but only for the first year. After that, the borrower is fair game.


Hard to answer. It’s a complicated issue.