Inside Johnson-Crapo

Posted by & filed under Federal Housing Finance Agency, Regulation.

Enterprise Community Partners, Inc. has posted Inside Johnson-Crapo: What the Senate Housing Finance Reform Bill Could Mean for Low- and Moderate-income Communities. Parsing the various Congressional proposals for housing finance reform is hard enough for an expert, let alone for an interested observer. This policy brief provides a helpful overview of the proposal that is… Read more »

Fannie and Freddie’s Debt to Treasury

Posted by & filed under Federal Housing Finance Agency, Regulation.

Larry Wall of the Federal Reserve Bank of Atlanta has posted one of his Notes from the Vault, Have the Government-Sponsored Enterprises Fully Repaid the Treasury? It opens, Have U.S. taxpayers been fully compensated for their bailout of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac? The Treasury is reported to have argued that… Read more »

CFPB Strategy on Mortgage Data

Posted by & filed under CFPB, Federal Housing Finance Agency.

The CFPB released its Strategic Plan, Budget, and Performance Plan and Report which provides a good summary of what the Bureau has done to date. I was particularly interested in this summary of its work to build a representative database of mortgages: In FY 2013, the CFPB began a partnership with the Federal Housing Finance… Read more »

Reiss on Frannie Reform

Posted by & filed under Federal Housing Finance Agency, Regulation.

Law360.com quoted me in Capital Rules To Spread Beyond Banks Under Housing Bill (behind a paywall). The story reads in part, Mortgage servicers, aggregators and other actors in the U.S. housing finance market would for the first time be subject to the same capital requirements that apply to banks under a new bipartisan bill aimed… Read more »

Appraisals in the Coal Mine

Posted by & filed under Federal Housing Finance Agency.

The Federal Housing Finance Agency Office of Inspector General released an Audit Report, FHFA’s Oversight of the Enterprises’ Use of Appraisal Data Before They Buy Single-Family Mortgages. As the IG notes, Assessing the value of collateral securing mortgage loans is one of the pillars in making sound underwriting decisions. Since September 2008, the Federal Housing… Read more »