Fannie and Freddie continued to meet FHFA's strategic goals: maintaining credit access, preventing foreclosures, reducing taxpayer risks and building securitization infrastructure.
Freddie Mac announced Thursday that current President David Brickman will get the nod to head the GSE. He will also take a seat on the board of directors. Donald Layton, the current CEO, will retire in July, as planned.
As usual, the Trump administration’s proposed annual budget appears to be dead on arrival. It simply steps on too many legislative toes. Among the issues the budget will face is how Congress reacts to its treatment of Fannie Mae and Freddie Mac.
A class action lawsuit, filed in the U.S. District Court for the Southern District of New York late last month, alleges that several of the dominant dealers in the debt instruments of Fannie Mae and Freddie Mac colluded in a systematic price-fixing scheme between at least January 1, 2009, and April 27, 2014.
There are some worrying trends buried in the tables of Freddie Mac’s quarterly refinance statistics for 2018. This, of course, is just a small slice of the economic pie, but the data have all the hallmarks of another housing bubble.
In early March, just before the Securities Industry and Financial Markets Association voted in favor of allowing the uniform mortgage-backed security for delivery in the to-be-announced market, Fannie Mae and Freddie Mac hosted a conference.
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