Chris Boyle will be in charge of all external-facing functions at the digital mortgage lending platform, including strategy, marketing and business development efforts.
The volume of eMortgages purchased by Fannie and Freddie has grown more than fourfold since 2018, but it’s still a tiny fraction of their single-family business.
Much of the criticism from the GOP concerned the re-proposed capital rule for Fannie Mae and Freddie Mac, which will reduce the capital relief the GSEs receive for credit-risk transfers.
After a mixed decision in the Fifth Circuit, it’s not clear how the SCOTUS will rule — especially with the death of Justice Ruth Bader Ginsburg last week. Oral arguments are scheduled for Dec. 9.
“Let’s be very clear,” Calabria said. “The CARES Act imposed unfunded costs on Fannie and Freddie,” adding that, by statute, the GSEs are required to recoup those costs via income.
Facing pressure from both sides of the aisle, FHFA Director Mark Calabria said if the GSEs had come into the current crisis with sufficient capital, the adverse market fee could have been delayed for a few years.