For as long as Edward DeMarco remains acting director of the Federal Housing Finance Agency, he said he will push forward with the agency’s strategic plan to wind down Fannie Mae and Freddie Mac while encouraging the return of private capital to the secondary market. DeMarco, along with FHFA Inspector General Steve Linick, testified before the Senate Banking, Housing and Urban Affairs Committee this week. The hearing to evaluate the FHFA’s conduct as regulator and conservator to the government-sponsored enterprises occurred amid reports that the White House is poised to nominate Moody’s Analytics’ Chief Economist Mark Zandi as the FHFA’s new permanent director. “Fannie Mae and Freddie Mac were chartered...
Although all of Bank of America earned $2.6 billion in the first quarter, its mortgage business lost money thanks to legacy problems. Also, it appears the bank is addicted to refis.
Rep. Maxine Waters, the ranking minority member of the House Financial Services Committee, believes that now is "precisely the time to think about how we can reshape the secondary mortgage market."
It appears that well known economist Mark Zandi is indeed a candidate to head the Federal Housing Finance Agency. But will the White House actually nominate him?
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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