Democratic senators ask Fannie and Freddie if they have attempted to model the risks associated with climate-related disasters, including floods, wildfires and extreme weather events.
The move from LIBOR to SOFR suffered a setback in December when financial institutions issued less than $4 billion in floating-rate notes tied to the new reference rate.
In efforts to move from LIBOR to SOFR, the GSEs informed market participants to expect new language on all single-family uniform adjustable-rate mortgage instruments that close on or after June 1.
The agency has picked Houlihan Lokey Capital to help it identify any financial, regulatory or market risks in its path to take Fannie Mae and Freddie Mac out of conservatorship.
The liquid assets required of nonbank seller/servicers will rise from 3.5 basis points to 4.0 bps for the unpaid principal balance of their enterprise servicing.
Among the more interesting changes: the FHFA, for the first time ever, is asking GSE customers to hold capital against the dollar amount of Ginnie Mae mortgages they service: 35 basis points.