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Inside The GSEs

May 17, 2024

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FHLBanks Still Flying High as Profits Improve in First Quarter

Although FHLB borrowing declined in the first quarter, with lenders continuing to reduce outstanding advances, profits for the system as a whole were up 9.6% from the fourth quarter and 16.6% year to date. (Includes three data tables.) Read More

FSOC Calls for FHFA, Ginnie Supervision of Nonbanks

The Financial Stability Oversight Council last week endorsed FHFA’s years-long request for prudential regulatory authority over nonbank mortgage servicers. Read More

Industry Presses FHFA for Richer Historical Credit Score Data

A coalition of trade groups has told FHFA that they can’t accurately compare new credit scores with old ones unless they have data going back prior to the financial crisis. Read More

FHFA RFI Ponders Mission of FHLBank System

Among the questions raised is should FHFA continue to focus on how much liquidity FHLBanks provide for housing and community development or are there other components to FHLBank operations that deserve more attention. Read More

States Challenge Automated Underwriting Systems

FHFA and the Mortgage Bankers Association have asked legislators to exempt Fannie Mae and Freddie Mac from new laws governing the use of automated underwriting systems and other artificial intelligence tools. Read More

GAO Tags Accounting Errors at FHFA

FHFA and its Office of Inspector General both missed the Bureau of Fiscal Service’s faulty calculation of the agency watchdog’s yearend payroll liability. Read More

Rule Prohibiting Incentive-Based Comp Reproposed

The Federal Housing Finance Agency last week joined the OCC, FDIC and NCUA in reproposing a rule that will prohibit incentive-based compensation agreements. Read More

More Personnel Moves at FHFA

FHFA has appointed Luis Campudoni chief information officer and Mary Peterman as chief financial officer. Read More

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