January 25, 2018
Credit Risk Transfer and Financial Crises
Susan Wachter posted Credit Risk Transfer, Informed Markets, and Securitization to SSRN. It opens, Across countries and over time, credit expansions have led to episodes of real estate booms and busts. Ten years ago, the Global Financial Crisis (GFC), the … Continue reading
January 25, 2018 in Federal Housing Finance Agency | Permalink | No Comments
January 18, 2018
The FHFA’s Take on Housing Finance Reform
Federal Housing Finance Agency Director Watt sent Federal Housing Finance Agency Perspectives on Housing Finance Reform to Senate Banking Chair Michael Crapo (R-ID) and Senator Sherrod Brown of Ohio, the top Democrat on that committee. There are no real surprises in … Continue reading
January 18, 2018 in Federal Housing Finance Agency | Permalink | No Comments
December 20, 2017
Are The Stars Aligning For Fannie And Freddie Reform?
Law360 published my op ed, Are The Stars Aligning For Fannie And Freddie Reform? It reads, There has been a lot of talk of the closed-door discussions in the Senate about a reform plan for Fannie Mae and Freddie Mac, the two mammoth housing … Continue reading
December 20, 2017 in Federal Housing Finance Agency | Permalink | No Comments
November 29, 2017
Another FHFA Win Against Shareholders
The U.S. Court of Appeals for the Sixth Circuit issued an opinion in Robinson v. FHFA et al. (No. 16-6680, Nov. 22, 2017) that is another win for the federal government in the fight with shareholders over Fannie and Freddie’s profits. … Continue reading
November 29, 2017 in Federal Housing Finance Agency | Permalink | No Comments
November 10, 2017
How Important Is Skin in The Game?
Haoyang Liu has posted a paper to SSRN that challenges the effectiveness of skin-in-the-game market discipline: Does Skin-in-the-Game Discipline Risk Management? Evidence from Mortgage Insurance. The abstract reads, Many mortgage reform proposals suggest replacing Fannie Mae and Freddie Mac (the GSEs) … Continue reading
November 10, 2017 in Federal Housing Finance Agency | Permalink | No Comments
October 27, 2017
Fannie and Freddie Visit the Supreme Court
Fannie and Fredddie investors have filed their petition for a writ of certiorari in Perry Capital v. Mnuchin. The question presented is Whether 12 U.S.C. § 4617(f), which prohibits courts from issuing injunctions that “restrain or affect the exercise of … Continue reading
October 27, 2017 in Federal Housing Finance Agency | Permalink | No Comments
October 4, 2017
FHFA’s Strategic Plan for Fannie and Freddie
The Federal Housing Finance Agency released its Strategic Plan for fiscal years 2018-2022 for public input. As discussed in yesterday’s post, Director Watt is very focused on maintaining the health of Fannie Mae and Freddie Mac. The Strategic Plan reiterates … Continue reading
October 4, 2017 in Federal Housing Finance Agency | Permalink | No Comments
