Even though the Fifth Circuit Court of Appeals agreed that the structure of the FHFA is unconstitutional, GSE shareholders have petitioned for a Supreme Court review of their case.
Based on reports from non-QM lenders Angel Oak and Citadel, the third quarter was a strong one for most originators. Meanwhile, the Ditech wind-down is almost over.
In addition to making a decision on how DTI ratios should factor into determining QM status, the CFPB is being asked to endorse an automated underwriting system for the same.
Dealing with the risks in Fannie Mae’s and Freddie Mac’s portfolio is more complicated than simply reducing the footprint of the government-sponsored enterprises, FHFA Director Mark Calabria told IM&A.
FHFA Director Mark Calabria this week ended a pilot program that allowed the GSEs to extend lines of credit to nonbanks pledging servicing rights as collateral.
The CFPB received numerous comments on its plan to adjust standards for qualified mortgages. However, industry stakeholders are divided on what steps the bureau should take.
As most observers expected, the Treasury reform plan leaves most of the important details for Congress or the Federal Housing Finance Agency to figure out.
Treasury Secretary Steven Mnuchin shed some light on how renegotiating the preferred stock purchase agreements by the Treasury and the Federal Housing Finance Agency might impact plans to recapitalize Fannie Mae and Freddie Mac.
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