Cart

Inside The GSEs

July 21, 2010

View Archived Issues

FHFA to Gain New Roles from Reg Reform Bill

The Federal Housing Finance Agency emerged from the regulatory reform debate with new powers and responsibilities, even though the resulting Dodd-Frank Wall Street Reform and Consumer Protection Act bypassed the opportunity to overhaul Fannie Mae and Freddie Mac, which were right in the thick of things that led to the financial crisis and the Great Recession of 2007... Read More

Most FHLBs Support Limits on MBS Holdings

Most Federal Home Loan Banks support limits on their mortgage-backed securities holdings – agency and non-agency alike – with one Bank calling for an outright ban on non-agency investments. Nine of the 12 FHLBanks submitted comments in response to the Federal Housing Finance Agency’s May 4 Federal Register notice of proposed rulemaking, indicating it is considering placing additional... Read More

Subpoena Response Could Swamp FHFA

The Federal Housing Finance Agency’s decision last week to issue dozens of subpoenas over huge losses that Fannie Mae and Freddie Mac suffered from non-agency mortgage-backed securities may come back to haunt the agency, which could find itself flooded with enormous amounts of documentation requiring significant resources and personnel to sift through. “This is really uncharted... Read More

CA A.G. Sues FHFA, Fannie, Freddie Over PACE Loans

California Attorney General Jerry Brown filed suit last week against Fannie Mae, Freddie Mac and their government conservator, the Federal Housing Finance Agency, after the two GSEs informed their seller/servicers that assessments associated with the Property Assessed Clean Energy program are loans that must be subordinate to their own mortgages. “As the nation struggles... Read More

FHLBank Debt Issuance Off 20 Percent from ’09

In another sign of declining lender demand to finance new mortgages, total debt issuance helping to support the Federal Home Loan Bank System continued to drop through the first half of the year, but at a slower rate than was seen last year. Total new issuance of the consolidated obligations of the Banks came to $877.4 billion at the mid-year... [Includes one chart] Read More

Falling G-Fees Suggest Less Risk for Fannie, Freddie

Fannie Mae and Freddie Mac saw the average total guarantee fee they charge on single-family mortgage acquisitions drop by 3 basis points last year, largely because of an improving credit profile of the loans they bought – and that means less potential risk for the GSEs.“There were improvements across the product, credit score and loan-to-value ratio spectrums, as 15-year-fixed-rate mortgages... Read More

Fannie, Freddie Stocks Now Trade Over The Counter

If investors thought the prices of Fannie Mae and Freddie Mac stock couldn’t go any lower than when they were reduced to near junk-bond status, treading water close to $1.00 a share, they got another rude awakening after the GSEs moved from the New York Stock Exchange to the OTC Bulletin Board. Afterwards, their share prices were trading in the... Read More

FHLBs Ask FHFA to Raise Housing Goal Threshold

The five Federal Home Loan Banks that commented on the Federal Housing Finance Agency’s proposed rule on housing goals, issued back in May, all agreed that the minimum threshold “compliance trigger point” should be doubled, from the proposed $2.5 billion to $5.0 billion. Further, that threshold would apply for those FHLBanks that participate in FHA/VA mortgage... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results