Big-league housing groups, including the Mortgage Bankers Association and the National Association of Realtors, warned senators not to use the g-fee as “the nation’s piggybank.”
Craig Phillips, senior counselor to Treasury Secretary Steven Mnuchin, recounts the Trump administration’s difficulties in ending the net worth sweep and the conservatorships.
Veteran analyst Dick Bove says tapering by the Federal Reserve and meddling by the FHFA will eventually force the Biden administration to address housing-finance reform.
Mortgage industry observers increasingly argue that Fannie Mae and Freddie Mac should be regulated as utilities. But conservative critics say, “Not so fast.”
Sen. Pat Toomey, R-PA, the ranking member of the Senate Banking Committee, this week indicated the GOP may be ready to compromise on key issues related to GSE reform.
The Fed and commercial banks purchased a combined $1 trillion in agency MBS over the past 12 months, more than 145% of the net supply. (Includes data chart.)
Because of the terms of the CARES Act, not only are borrowers in forbearance allowed to skip their monthly payments, but servicers are prevented from reporting their mortgages as past due.
Their new Senate majority, albeit a slim one, should make it easier for Democrats to pass key budget priorities. But what does it mean for Fannie and Freddie?
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