Editor: David Reiss
Brooklyn Law School

April 28, 2016

Republicans Ready for GSE Reform?

By David Reiss

Senator Shelby (R-AL), the Chair of the Senate Committee on Banking, Housing and Urban Affairs, sent a letter to the U.S. Government Accountability Office regarding the future of Fannie Mae and Freddie Mac, sometimes known as the “enterprises.” It provides an … Continue reading

April 22, 2016

Nonbank Mortgage Servicers and the Foreclosure Crisis

By David Reiss

The United States Government Accountability Office has issued a report, Nonbank Mortgage Servicers: Existing Regulatory Oversight Could Be Strengthened. The GAO found that The share of home mortgages serviced by nonbanks increased from approximately 6.8 percent in 2012 to approximately 24.2 … Continue reading

April 19, 2016

Principal-ed Forgiveness

By David Reiss

The Federal Housing Finance Agency announced a new program to implement principal reduction for seriously delinquent, underwater homeowners who meet the following criteria: Are owner-occupants. Are at least 90 days delinquent as of March 1, 2016. Have an unpaid principal balance … Continue reading

March 30, 2016

Road to GSE Reform

By David Reiss

A bevy of housing finance big shots have issued a white paper, A More Promising Road to GSE Reform. The main objective of the proposal is to migrate those components of today’s system that work well into a system that is … Continue reading

March 18, 2016

Fannie & Freddie’s Duty to Serve

By David Reiss

The Federal Housing Finance Agency had issued a request for comments on a proposed rulemaking back in December about Enterprise Duty to Serve Underserved Markets. Comments were due yesterday. I drafted a short comment letter on one of the many topics … Continue reading

February 8, 2016

GSE Reform, by Stealth?

By David Reiss

The Urban Institute’s Housing Finance Policy Center has issued its January 2016 Housing Finance at a Glance Chartbook. It opens by noting, The FHFA recently released its 2016 Scorecard for Fannie Mae and Freddie Mac with updated guidance for credit risk transfer … Continue reading

January 5, 2016

The Duty to Serve Underserved Markets

By David Reiss

The Federal Housing Finance Agency has issued a Notice of Proposed Rulemaking and Request for Comments regarding Enterprise Duty to Serve Underserved Markets.  The “Enterprises” are Fannie and Freddie and this duty to serve is a highly contested one, with … Continue reading