GSEs

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."

Renovation spending is decelerating faster than expected this year, but could slow with more deliberation than previously anticipated next year, according to Harvard University's Joint Center for Housing Studies.

Single-family mortgage production this year is expected to be 3% higher than anticipated last month, according to Fannie Mae, which revised its estimates based partly on a stronger housing outlook.

A year after Fannie Mae launched its first credit-risk transfer securitization using a real estate mortgage investment conduit, Freddie is now electing to also opt for a REMIC format in offloading the credit risk to private investors.

The developer of the newly constructed Washington, D.C., headquarters for Fannie Mae is securitizing part of its $525 million, 10-year mortgage through a single-asset, mortgage-backed transaction.

David Lowman, executive vice president of the single-family business at Freddie Mac, has informed the company he will be stepping down from his position on or about Nov. 1.

September's increase in mortgage credit availability was driven by the expansion of jumbo products to record levels, which overcame a retrenchment in both conforming and government programs, the Mortgage Bankers Association said.

Consumer confidence in the housing market remains relatively strong, but economic uncertainty is testing its resiliency, according to Fannie Mae.

Fannie Mae is cracking down on homebuyer education requirements, particularly for first-time homebuyers and purchasers utilizing high loan-to-value mortgages.

Allowing the mortgage giants to retain profits resolves a short-term capital shortfall, but how much capital they would need after exiting conservatorship is still the bigger question.