Industry watchers said a blue wave would stall GSEs’ recapitalization and exit from conservatorship and likely send FHFA Director Mark Calabria packing.
Under the Fed’s framework, which in many ways differs from the OCC’s final rule, a bank’s mortgage lending performance will be evaluated in two ways: a retail test and community development measurement.
One of the key functions of the GSEs is to pool risk nationally for the benefit of underserved borrowers, and any capital framework for the enterprises has to build in this cross-subsidy, according to housing advocates.
The “implied guarantee subsidy” that underpins the FHLBank operations is the reason why financial institutions of all kinds are clamoring for membership, according to former Freddie CEO Don Layton.
The Federal Housing Finance Agency said it lacks sufficient data to create statistical models to “reflect economic conditions for 2021” because of the market disruption caused by the coronavirus.
HUD Secretary Ben Carson told lawmakers he will cooperate with an inquiry into whether a new policy prevents DACA recipients from receiving federally backed mortgage loans.
Lawmakers questioned Federal Housing Finance Agency Director Mark Calabria on a wide range of issues, including extending the timeline, and expanding the scope, of the eviction moratorium.
Brian Montgomery, the recently confirmed HUD deputy secretary, is known for working in a bi-partisan fashion and pushing through meaningful legislation.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
The 10-year Treasury rate is declining and the possibility of a recession is growing.
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