IMFnews

February 14, 2018

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Why Not Make the FHLBanks MBS Guarantors Too?

Under this arrangement, the FHLBanks would be “jointly and severally liable” for the obligations of any single-family guarantor formed under the new system… Read More

127 Mortgage Banking Executives Sign ‘Open Letter’ to Congress on GSE Reform

Housing finance reform legislation is being worked on in the House and Senate but has yet to be formally introduced. Read More

New Tax Law Blows a Hole in Fannie Mae’s 4Q17 Results, FHFA to Ask Treasury for $3.7B in Cash to Eliminate the ‘Net Worth’ Deficit

As National Association of Realtors Vice President Joe Ventrone put it: “It’s an unintended consequence of the tax bill rather than falling into the bailout narrative.” Read More

Bill Would Restore REIT Access to FHLB Advances

Borrowing from the FHLB advance window would save REITs a ton of money… Read More

Quicken Loses Another Top Executive, This Time EVP Pete Carroll

At Quicken, Carroll served as executive vice president where he helped develop the lender’s positions on key policy issues. Read More

Short Takes: Arch has Some ‘Fairly Well Developed’ Plans / Auditing the FHA MMIF / New Residential May Become a Player in Ginnie MSRs / Consumer Advocates Not Happy / Top VA Official Departs Agency for PenFed

Look for New Residential to become a buyer of Ginnie Mae servicing packages... Read More

Freddie's 4Q Results Get Smacked Around Because of Tax Changes, Will Need a $312 Million Check from Treasury

All totaled, the new tax law will result in Treasury – which owns the senior preferred stock of the GSEs – forking over $4.01 billion to aid Fannie and Freddie... Read More