Housing-finance watchers are gearing up for December when the Supreme Court will hear oral arguments challenging the government’s net worth sweep of Fannie Mae and Freddie Mac profits.
The Structured Finance Association said it is concerned FHFA believes that, if the GSEs have capital levels similar to banks, the need for an explicit guarantee will be eliminated.
Nonprofit groups said the new rule will lead to higher guarantee fees, potentially pricing many low-income families and families of color out of the GSE channel.
The Federal Reserve Bank of New York will have likely added nearly $1.5 trillion of MBS to the System Open Markets Account by January, and the Fed will once again own more than a third of all agency product.
Jeffery Hayward will assume the newly created position of chief administrative officer at Fannie. He will oversee affordable housing, as well as environmental, social and governance programs.
CSS has appointed Jina Hong as senior vice president and chief audit executive and Juanita Russell as senior vice president and chief financial officer.
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