The central goal of the Federal Housing Finance Agency (FHFA) in managing its conservatorship of Freddie Mac and Fannie Mae is and conserving the assets of the corporations by minimizing their credit losses from delinquent mortgages. This goal and others were outlined in a letter earlier this month from...
Home Today's Headlines ATW Forums Q&A Mortgage Rates Top Stories Bernanke Says Status of GSEs in "No-Man's Land". Discussing Reform, Reorganization, Reassurance Today, during the Q&A session of his annual report to Congress, Chairman of the Federal Reserve Ben Bernanke said we are in "no-man...
I think all of us would agree that the Housing Finance System in this country is broken. The ability for the once powerful secondary marketing vehicles to provide liquidity to the housing industry is at risk. Private securitization has been out of business for over two years, the agency markets required...
Home Today's Headlines ATW Forums Q&A Mortgage Rates Top Stories Don't Expect the GSEs to Go Away Anytime Soon GNMA paper is already explicitly guaranteed, expect GNMA and the FHA to continue to be a crutch (responsibly). In terms of GSE paper, while I still believe... - MND NewsWire Pay Option ARM...
Home Today's Headlines ATW Forums Q&A Mortgage Rates Top Stories FOMC Hints at MBS Purchase Program Extension. GSE Reform is Real Issue he focus on the Fed's involvement in the mortgage market has cast a dark shadow over GSE REFORM. I think its time we start discussing HOW TO GET THE... - MND NewsWire...
Happy New Year, readers, but before we get on with the debates of 2010, there's still some ugly 2009 business to report: To wit, the Treasury's Christmas Eve taxpayer massacre lifting the $400 billion cap on potential losses for Fannie Mae and Freddie Mac as well as the limits on what the failed...
Over the holidays the US Treasury issued an update on the status of government support for housing programs. Here is a quote from the release : "Today, the U.S. Department of the Treasury provided an update on initiatives established under the Housing and Economic Recovery Act (HERA) of 2008, which...
What’s not clear from yesterday's announcement is whether or not Fannie and Freddie are acting strategically or at the behest of Treasury or FHFA. Strategically this makes a lot of sense since the GSE’s have long supported a diverse market of loan sellers: credit unions, community banks...
Programs are underway on so many fronts to get foreclosures under control that it can be difficult to sort them all out. Early last week the Office of Thrift Supervision and the Office of Comptroller of the Currency issued their second quarter summary of foreclosure avoidance activity among large loan...
Fannie Mae has a herculean challenge in front of them. The Government Sponsored Enterprise has to manage the legacy issues of loose underwriting and documentation practices of it’s lender/servicer clients and the fallout from those dubious practices, the present day realities of an economic conditions...