GSE reform

The Federal Housing Finance Agency has extended its deadline for investor comments on a proposal aimed at better aligning pooling practices for loans in uniform mortgage-backed securities.

The Federal Housing Finance Agency is scrapping a capital proposal it released last year and will seek comments on a new plan in 2020.

And the government-sponsored enterprises could hold initial public offerings in 2021 or 2022 to ensure they hold adequate capital, FHFA Director Mark Calabria said.

The two newest private mortgage insurance companies had their best quarters ever for new insurance written, aided by the increase in consumers refinancing with less than 20% home equity.

The Federal Housing Finance Agency is seeking comment on a proposal that could pave the way for potential Fannie Mae and Freddie Mac competitors to use the uniform mortgage-backed security structure.

Recent Fannie Mae and Freddie Mac activities are “not the kind of day-to-day behavior that you would expect from companies” under federal control, the head of the Federal Housing Finance Agency said.

The Mortgage Bankers Association's annual convention rolled through Austin, Texas, this year, leaving behind important announcements and implications for the future of the mortgage industry.

When it comes to possible new competitors in the secondary market, the heads of the two current outlets more than welcomed the possibility of additional players in their space because of housing finance reform.

The regulator of Fannie Mae and Freddie Mac discussed steps the companies have already taken to limit their risk, as well as efforts to prevent housing market “overlap” with the FHA.

At a House hearing covering a whole host of housing finance reform topics, Fannie Mae and Freddie Mac's regulator said "if the circumstances" call for eliminating investors, "we will."