GSEs

The most extreme example of FOMC interest rate market manipulation in 2020 to 2021 has now created a huge potential risk for lenders and investors, writes the chairman of Whalen Global Advisors.

The U.S. Supreme Court turned away four appeals from shareholders of the government-sponsored enterprises who said they were entitled to compensation after the Treasury collected more than $100 billion in profits from the government-sponsored enterprises.

Special purpose credit programs, down payment assistance and potential mortgage insurance premium cuts came into focus over the past year.

Allowing Fannie Mae and Freddie Mac to buy these loans encourages consumers to purchase more expensive homes, the group said.

The Federal Housing Finance Agency is reducing the amount lenders can sell to a government-sponsored enterprise by $3 billion next year.

The limit for high-cost areas for 2023, 50 percent above the baseline limit, would be approximately $1.08 million, writes a former principal economist with the Federal Housing Finance Agency.

The Mortgage Bankers Association and Housing Policy Council are asking for the Federal Housing Finance Agency to make government-sponsored enterprise data available as part of the establishment of its new Office of Technology.

The new chief executive comes to the government-sponsored enterprise from national nonprofit Enterprise Community Partners and previously held management roles at JPMorgan Chase.

The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.

The former head of the agency said a decision last year to suspend caps on investor loans has further induced demand in an already hot market. Other experts say a supply-demand imbalance is the true driving force.

As the GSEs enter their 15th year in conservatorship, shareholders are wondering when they'll get their company back.

Fannie Mae and Freddie Mac are mum on whether a temporary solution from Florida officials to support downgraded home insurance firms will pass muster for the enterprises' underwriting exceptions.

Dennis Hermonstyne, a legal and regulatory expert, previously held roles with E-Trade and the Federal Reserve System.

Katie Jones is the third woman added to the GSE’s chief officer ranks in the past year.

Federal Housing Finance Agency Director Sandra L. Thompson told lawmakers on Wednesday that the agency would consider “foundational questions about mission, purpose, and organization” of the Home Loan Bank System.

Former Federal Reserve Gov. Daniel Tarullo and two Fed economists argue that the Federal Home Loan banks have expanded into activities that pose risks to financial stability.

New research by The Federal Reserve Bank of Philadelphia finds post-forbearance options falling short of payment-reduction goals set forth by FHFA and HUD.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.

Calls for “reform” in times of high liquidity ignore the scalability of the system, and the need to have it around in times of trouble.