Naa Awaa Tagoe, deputy director for housing mission and goals at FHFA, waded through some of the agency’s most recent controversies at the MBA’s secondary market conference.
The Financial Stability Oversight Council last week endorsed FHFA’s years-long request for prudential regulatory authority over nonbank mortgage servicers.
FHFA and the Mortgage Bankers Association have asked legislators to exempt Fannie Mae and Freddie Mac from new laws governing the use of automated underwriting systems and other artificial intelligence tools.
The GAO’s fact-filled, even-handed review of the FHLBanks’ role in last spring’s regional banking crisis has been used to justify arguments by both critics and supporters of the banks.
FHLBanks and housing advocates square off over issues, such as the banks’ mission, how they benefit housing finance and, surprisingly, whether they receive a federal subsidy.
Despite the added cost and delay, Hamish Hume said it was advantageous for the plaintiffs’ team to have to hold a second trial after the first one ended in a hung jury.
A regulatory interpretation released this week by FHFA involving cooperativas in Puerto Rico may begin the formal implementation of key recommendations in its review of the FHLBank system.
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