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Inside The GSEs

January 31, 2020

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Calabria Reshuffles FHFA; Adds More Units, New Faces

FHFA Director Mark Calabria is delivering on his promise to revamp the agency in preparation for the end of the GSE conservatorships. Read More

Nonbank Share of GSE MBS Business Up Sharply in 2019

Independent mortgage bankers became the largest source of new single-family loans for Fannie and Freddie MBS in 2019, while significantly expanding their share of the GSE servicing market. (Includes data chart.) Read More

FHFA Proposes Hiking Eligibility Requirements for Seller/Servicers

The liquid assets required of nonbank seller/servicers will rise from 3.5 basis points to 4.0 bps for the unpaid principal balance of their enterprise servicing. Read More

Industry Wary of CFPB’s New Proposed QM Rule

The CFPB plans to move away from the use of DTI as a criteria for a qualified mortgage, and instead opt for a pricing threshold. Read More

Industry Gives Thumbs Down to FHFA’s UMBS Pooling Plan

SIFMA said the Ginnie-like market structure proposed by FHFA isn’t appropriate for conventional MBS. Moreover, the plan doesn’t address the continued misalignment of MBS issued by Fannie and Freddie. Read More

Former Fannie Employee Gets Six Years for Bribery

A federal court sentenced Shirene Hernandez, a former Fannie Mae sales representative, to more than six years in prison for bribery. Read More

Court Allows Employee Suit Against FHLB San Francisco

Two former employees of FHLBank of San Francisco can pursue a lawsuit for breach of contract, a DC district court ruled this week. Read More

PEs Exploiting GSE Funding for Manufactured Homes?

Affordable housing advocates say a high concentration of ownership by private equity firms makes residents of manufactured home communities vulnerable to unsustainable increases in rent or maintenance fees. Read More

Freddie Prices $1.2B Multifamily K-Deal

The latest multifamily transaction continues the enterprise’s move toward Secured Overnight Financing Rate-based bonds. Read More

Freddie LIHTC Investment Tops $1B

Freddie’s return to LIHTC investment in 2018 has resulted in projects in underserved communities in 22 states plus Puerto Rico and Guam. Read More

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