September 3, 2013
Fannie and Freddie’s Unreported Billions of Losses
The Federal Housing Finance Agency’s Inspector General has warned FHFA Acting Director DeMarco that the FHFA has allowed Fannie and Freddie to defer acknowledgment of billions of dollars of losses relating to seriously delinquent singe-family residential mortgage loans for far … Continue reading
September 3, 2013 in Federal Housing Finance Agency | Permalink | No Comments
August 30, 2013
If QRM = QM, then FICO+CLTV > DTI ?@#?!?
The long awaited Proposed Rule that addresses the definition of Qualified Residential Mortgages has finally been released, with comments due by October 30th. The Proposed Rule’s preferred definition of a QRM is the same as a Qualified Mortgage. There is … Continue reading
August 30, 2013 in Federal Housing Finance Agency | Permalink | No Comments
August 16, 2013
New Mortgage Rule Said to be Proposed at End of August
U.S. regulators will propose a new version of a rule requiring lenders to keep a stake in risky mortgages that they securitize in the last week of August. Currently, the draft regulation numbers 500 pages and will be written by … Continue reading
August 16, 2013 in Federal Housing Finance Agency | Permalink | No Comments
August 9, 2013
Fannie, Freddie & Affordable Housing
I was quoted in a Law360.com story, Affordable Housing May Trip Up Fannie, Freddie Fixes (behind a paywall). It reads in part, While the debate over housing finance reform in Washington has focused on the government’s role as market backstop, analysts say … Continue reading
August 9, 2013 in Federal Housing Finance Agency | Permalink | No Comments
July 16, 2013
Mortgage Bankers Ask Permission to Hijack GSE Reform
The Mortgage Bankers Association issued a concept paper that calls for a board of mortgage industry representatives to “have the authority to direct the scope and immediate priorities of the [Central Securitization] Platform’s development, and the capability to redirect resources … Continue reading
July 16, 2013 in Federal Housing Finance Agency | Permalink | No Comments
July 9, 2013
Thrilla in Vanilla: Freddie v. Jumbo
Kroll BondRatings issued an RMBS Commentary, Mortgage Credit Trends: Freddie Mac vs. Prime Jumbo. This commentary is important because it offers some help in evaluating the proposed “risk sharing” securitizations that Fannie and Freddie are considering. It is also important … Continue reading
July 9, 2013 in Federal Housing Finance Agency | Permalink | No Comments
July 8, 2013
State of the Nation’s Housing 2013: Build It and They Will Come
The Joint Center for Housing Studies of Harvard University released The State of the Nation’s Housing 2013. As always there is much of interest in this annual report. I was particularly intrigued by Figure 21 on page 20, “The Government … Continue reading
July 8, 2013 in Federal Housing Finance Agency | Permalink | No Comments
