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Inside The GSEs

September 27, 2013

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FHFA Tries to Stoke HARP Refi Flame

With mortgage refinance activity flagging in the wake of a spike in interest rates that began months ago, the Federal Housing Finance Agency this week launched a campaign to get more mileage out of the Home Affordable Refinance Program. (Includes one data chart.) Read More

Groups Lobby Against Loan Limit Reduction

The mortgage and housing sectors expect the Federal Housing Finance Agency to unveil lower GSE loan limits this fall – it’s just a matter of when. A handful of developments are affecting the timing of that decision, including intense lobbying by the National Association of Realtors and National Association of Home Builders, and a growing concern that mortgage bankers are already swamped with implementation deadlines tied to a slew of new rules from the Consumer Financial Protection Bureau. Read More

FHFA as Reality TV

The FHFA’s HARP outreach effort includes public service announcements by Mike Aubrey, a real estate agent based in North Potomac, MD. He stars in a reality TV show, “Power Broker,” that premiered on HGTV in July Read More

GSEs, Not FHFA, Ready Mortgage Insurance Guidance; A 15-to-1 Risk-to-Capital Ratio is Unlikely

Fannie Mae and Freddie Mac are continuing to work on revised eligibility standards for mortgage insurance companies that likely will reduce the 25-to-1 maximum risk-to-capital ratio enjoyed by guarantors that cover their loans. Some type of guidance is expected, at least from one of the GSEs, by the end of October. Read More

FHLBank Advances Increase in Second Quarter

The 12 Federal Home Loan Banks saw a hefty 9.6 percent increase in the volume of advances outstanding during the second quarter of 2013, but the outlook for the FHLBank’s primary money-maker remains cloudy. (Includes one data chart.) Read More

The GSE CSP HQ Coming to Bethesda, MD?

The common securitization platform project being overseen by the Federal Housing Finance Agency has picked the Maryland suburb of Bethesda as its home, according to industry officials briefed on the situation. Read More

FHFA Loosens Stress Test Requirements for GSEs

The Federal Housing Finance Agency this week issued a final rule requiring annual stress tests for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, as mandated under the Dodd-Frank Act. Read More

Fannie Overpaid Loan Servicers $89 Million

Fannie Mae’s inadequate internal controls on outsourced servicer reimbursements – and late-to-the-party oversight by the Federal Housing Finance Agency – cost the GSE $89 million in overpayments last year, according to a recent report by the FHFA Office of Inspector General. Read More

GSE Short Takes: Freddie DTA Coming Soon?

Will the White House ask Freddie to fork over its deferred tax assets? Holders of "junior preferred" and common class GSE stock hope to increase the value of their holdings. Fannie Mae kills its inactivity fee. And Fannie hires a manager for its part of the Common Securitization Platform. Read More

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