GSEs

The president will oust Federal Housing Finance Agency Director Mark Calabria, a Trump appointee, now that the high court says the chief executive can do so at will. It's "critical that the agency implement the administration’s housing policies," said a White House official.

The justices on Wednesday threw out a key part of a challenge brought by firms including Paulson & Co., Pershing Square Capital Management and Fairholme Funds ​to the government’s collection of more than $100 billion in profits from Fannie Mae and Freddie Mac.

A majority of the justices concluded that the law establishing the Federal Housing Finance Agency violated the Constitution when it said a president may only remove the agency's chief "for cause."

The Community Home Lenders Association’s letter adds to criticism of the changes made to the GSEs’ preferred stock purchase agreement and indicates that its mandates are proving tough to meet.

A $28.8 billion rise in multifamily debt made up 65% of the $44.6 billion quarter-to-quarter gain, the Mortgage Bankers Association reported.

The guidance addresses confusion related to how lenders should handle situations in which borrowers have not paid for a year and need additional help due to a natural disaster.

The Federal Housing Finance Agency said it is reviewing compensation policies for Fannie Mae and Freddie Mac and requesting feedback from the public. Some have said the $600,000 limit for executives imposed by Congress makes it hard to find talent.

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

The government-sponsored enterprises have been returning to normal underwriting and are buying more loans than last year, but annual limits they have in place could become a concern.

For two decades, Alfred Pollard served as the general counsel for Fannie Mae and Freddie Mac’s regulator. He had a front-row seat for the establishment of the Federal Housing Finance Agency, the government’s subsequent seizure of the mortgage giants amid mounting losses in 2008 and the more recent legal dispute over the FHFA’s authority.