GSEs

Treasury Secretary Steven Mnuchin reiterated Thursday that he wants U.S. financial markets to remain open even as the coronavirus fuels wild volatility, while adding that he's focused on helping mortgage firms expected to be hit hard by the pandemic’s spreading economic pain.

The Federal Reserve Board should create a dedicated facility for mortgage servicers to access in order to make required advances, industry participants and observers, including its largest trade group, said.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

Mark Calabria said Fannie Mae and Freddie Mac are currently equipped to handle elevated delinquencies, but they might need congressional or Federal Reserve help if fallout from the coronavirus persists.

A number of proposals have been floated for debt payment holidays and other types of moratoria, but such approaches offer solutions that are worse than the problems.

A proposal to tighten financial requirements for government-sponsored enterprise counterparties that sought to lower risk in a volatile market should be suspended, a group representing smaller lenders said, arguing it would aggravate current distress.

Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.

With the return of volume and profitability to mortgage lending, it is no surprise that commercial banks are coming back to the market.

Fannie Mae and Freddie Mac coming out of conservatorship and transitioning into public utilities would be the ideal for small mortgage lenders, according to trade-organization representative Robert Zimmer.

Fannie Mae completed its first two Credit Insurance Risk Transfer transactions of 2020, shifting $1 billion of single-family loan credit risk to insurers and reinsurers.

An effort by the Federal Housing Finance Agency to examine membership rules for the Federal Home Loan Bank System is reigniting an argument over whether to allow more nonbanks in or impose tougher barriers.

From increased consumer engagement to new forms of payment, mortgage servicers are finding themselves faced with new trends in the market that they need to address.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to contribute $502.2 million to two funds that help preserve and build affordable housing.

Freddie Mac elevated Corley to executive vice president and head of its single-family business, putting her permanently in the role she occupied since last October.

Freddie Mac saw a decline in net profit in 2019 due to decreased interest rate income, lower amortization revenue and risk-reducing investment costs, but its consecutive-quarter results improved.

Fannie Mae identified the adoption of hedge accounting and regular issuance of multifamily Connecticut Avenue Securities deals as among strategies it could continue to pursue while navigating regulatory uncertainties and change.

Five MBS pools of predominantly non-QM mortgages have been launched into the market by originators and loan aggregators, according to ratings agency presale reports published since Monday.

Whether a deal involves a minority stake or a whole company carve-out, buyers and sellers should be aware of five issues that may pose transaction risk in the mortgage market.

The unsuccessful scheme has become the focus of a legal battle involving two former Federal Home Loan Bank of San Francisco employees against that government-sponsored enterprise, which fired them in 2018.

The government-sponsored enterprises’ plan to cease accepting loans pegged to the London interbank offered rate a year ahead of its scheduled expiration is expected to hasten action in securitized markets.