Mar 5, 2013 3:24PM

MBA's Stevens Critical of FHFA Securitization Platform Proposal

The Mortgage Bankers Association (MBA) has reacted harshly to an announcement made yesterday by Edward J. DeMarco, Acting Director of the Federal Housing Finance Agency. In a speech before an economic conference DeMarco said that FHFA, in its role as conservator of Freddie Mac and Fannie Mae (the GSEs) would be setting up an independent business entity to manage a new securitization platform for the secondary market . MBA's President and CEO David H. Stevens issued a formal statement this afternoon...

Mar 5, 2013 9:48AM

DeMarco Outlines Plan to Merge Fannie, Freddie into New Securitization Firm

Edward J. DeMarco announced that the Federal Housing Finance Agency plans to establish a new entity, independent of Fannie Mae and Freddie Mac (GSEs), to design and implement a new securitization platform for the secondary market. The entity, initially owned and funded by the GSEs, it would have an independent CEO and Board of Directors and would be housed in a separate location from the two companies. His announcement was made in a speech to member of the National Association of Business Economics...


Micro News

2:44 PM:

Building on Morning Support, Close To Positive Territory

10:44 AM:

MBS Hit Lows, Early Reprice Risk If We Don't Bounce

10:09 AM:

ECON: ISM Non Manufacturing Stronger Than Expected

9:13 AM:

Slightly Weaker; Straightforward "Risk-On" Move Overnight

10:36 AM:

Fed's Yellen says forceful stimulus still needed

10:11 AM:

ECON: ISM New York Index Rises To 11-Month High

9:19 AM:

Bond Markets Slightly Weaker Into Domestic Hours

1:05 PM:

Reprice Risk Increasing MBS Continue To Underperform

Around the Web

Video News

Santelli's Midday Bond Update

Santelli Gets Technical on Dow

Santelli's Morning Bond Update


Today's Comments

akaagassi

"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."

Jason Harris

"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."

craig simons

"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

Today's Q&A

"reinstatement of title deed to my name"

"can more than one offer raise the price of a sale"

"refinance my second mortgage"