In testimony before lawmakers, both Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell stressed that time and care is needed to raise capital before the GSEs exit conservatorship.
Regulatory reforms initiated after the 2008 financial crisis seemed to work as intended during the COVID-19 downturn, according to participants at the ABS East conference.
If not for the surge in originations and refi income, the delinquencies and defaults seen this spring could have caused some mortgage companies to fail, according to Federal Reserve Governor Michelle Bowman.
FHFA Director Mark Calabria and Treasury Secretary Steven Mnuchin seem to have different motives to take the GSEs out of conservatorship. However: Will they be able to reach an agreement soon?
Although FHFA claims to have taken steps to improve its supervisory prowess, no signs of those improvements are apparent, the agency OIG said in its semi-annual report to Congress.
The industry was not expecting the FHFA to give ground on 4% Tier I capital for Fannie and Freddie. Now for the big question: What does it mean for lenders?
The CEOs of Freedom Mortgage and Caliber Home Loans said nonbanks, which face heavy criticism from regulators, don’t necessarily have a riskier business model than depositories.
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