The flow of conventional mortgages with private mortgage insurance coverage into Fannie Mae and Freddie Mac mortgage-backed securities fell sharply in the fourth quarter – tracking a broader slump in purchase-mortgage business. [Includes three data charts.]
Joseph Otting, the comptroller of the currency, added the title of the Federal Housing Finance Agency acting director to his brief this week, effectively bringing the Mel Watt era at the agency to an end.
Overwhelmingly, industry analysts expect Mark Calabria to shake things up at the Federal Housing Finance Agency – that is, once he’s approved by the full Senate.
After having initially been brushed off as unnecessary, a pilot program that allowed Freddie Mac and Fannie Mae to help finance single-family rental activity is now being hailed a success.