With the Republicans poised to take control of the U.S. Senate and having gained an even greater GOP majority in the House, legislative conversations surrounding housing finance reform should return to Capitol Hill, but few political commentators believe a bill can actually be passed. Control of the Senate swung back to the GOP for the first time since 2006 after the polls closed, as Republicans now enjoy a 52-45-3 majority in the Senate. However, the race in Louisiana between incumbent Democrat Mary Landrieu and Republican challenger, Rep. Bill Cassidy is headed...
The mortgage insurance industry lost a key political ally with the reelection defeat of first-term Democratic incumbent Sen. Kay Hagan of North Carolina.
The FHFA has decided not to have a chairman for Common Securitization Solutions. Instead, the unit will be governed by a four-person "board of managers."
The Federal Reserve’s quantitative easing tapering will put a dent in Fannie Mae and Freddie Mac guaranty fee revenues, according to the Federal Housing Finance Agency’s Inspector General. The evaluation report issued by the IG last week concluded that as the central bank pulls back from the mortgage-backed securities market, interest rates will drift higher and the GSEs will do less business, meaning declining g-fee revenue.
The Mortgage Bankers Association has formally called upon the Federal Housing Finance Agency’s official watchdog to reconsider some of its proposals meant to prevent the next multi-billion dollar fraud scheme against Fannie Mae and Freddie Mac. In a letter dispatched to the FHFA’s Inspector General late last week, the MBA cited its opposition to certain recommendations the IG made to the Finance Agency in its August post-mortem on the swindle perpetrated by the now-defunct Taylor, Bean & Whitaker Mortgage.
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