GSEs

The reserve bank's proposal to address banks and nonbanks that remain "too big to fail" does not include two of the largest such institutions: Fannie Mae and Freddie Mac.

Mortgage credit availability tightened during March to its lowest level in over a year, adding another headwind to a market challenged by rising interest rates and a shortage of homes for sale.

Momentum to overhaul the mortgage finance system had been slipping, and with Democrats divided over the Senate's banking relief bill there's virtually no chance more bipartisan deals can be worked out.

The annual progress report on the Fannie Mae and Freddie Mac conservatorships reiterated that a new credit score model will likely not be operational until after the implementation of a new Single Security Initiative.

Servicers are still trying to figure out how they can best take advantage of the growing use of electronic notes and other digital mortgage tools by lenders and the secondary market.

Fannie Mae and Freddie Mac had a 9% increase in total foreclosure prevention actions taken during 2017 as a result of three September hurricanes, according to the Federal Housing Finance Agency.

News that the GSEs need an infusion from Treasury to cover quarterly losses underscores problems with the government’s 2012 decision to “sweep” the housing giants’ profits.

As policymakers take another crack at housing finance reform, federal leaders and the housing lobby are once again perpetuating the false notion that ending government guarantees would cause the 30-year, fixed-rate mortgage to vanish.

A stronger than expected refinance market led Fannie Mae to increase its origination projections for the first quarter by nearly 4% in its March outlook.

Fannie Mae is about to roll out a new underwriting system that will address some concerns about layered risk that cropped up after it raised its maximum debt-to-income ratio.