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Tag Archives: Conservatorship

FHFA Updates Congress on GSEs’ Progress On Foreclosure Prevention, NPL Sales

Also in 2014, FHFA and the GSEs reviewed and made enhancements to requirements for foreclosure alternatives, forbearance plans, and rate-reset notifications. Fannie Mae and Freddie Mac announced in July the expansion of home retention solutions for Standard and Streamlined modifications, enabling eligible borrowers with mark-to-market LTV ratios below 80 percent to obtain a loan modification.

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White Paper Authors Warn of the Cost of Reprivatizing GSEs

Currently their line of credit with Treasury would provide about 5 percent capitalization and the current guarantee fee of 63 basis points would provide about 3 percent; they would need to increase their G-fees by about 27 basis points to raise the additional 2 percent capital.

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Treasury Official Says Administration is ‘Ready, Willing, and Able’ to Talk Housing Finance Reform

Speaking at the National Council of State Housing Agencies Legislative Conference on Monday, the Department of U.S. Department of Treasury Counselor to the Secretary for Housing Finance Policy Dr. Michael Stegman said that the Obama Administration is "ready, willing, and able" to talk housing finance reform, which has been a hot-button topic in recent months as Fannie Mae and Freddie Mac remain in conservatorship of the Federal Housing Finance Agency.

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FHFA Report to Congress Reveals Milestones, Problems

The Federal Housing Finance Agency (FHFA) submitted its 2013 Report to Congress, which detailed findings from the agency's examination of Fannie Mae and Freddie Mac. The report found that although experiencing significant exposure to credit losses from mortgage originations several years prior to the government's conservatorship, the two GSEs had record amounts of net income in 2013.

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FHFA Reports Fannie and Freddie Foreclosure Prevention Activity

The Federal Housing Finance Agency (FHFA) has been busy. After a recent Mel Watt speech as well as a plan for the future of Fannie Mae and Freddie Mac, the government agency released its Foreclosure Prevention Report for February 2014. The report contains data regarding the foreclosure prevention activity of the GSEs as of the end of February.

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FHFA Adopts New Plan Under Director Watt; Won’t Reduce GSE Market Share

In a speaking engagement at the Brookings Institution, Federal Housing Finance Agency (FHFA) Director Melvin L. Watt spoke about his new 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac, highlighting a few major changes to the plan. Notably Watt’s plan removes any intention to reduce the GSEs' presence in the market, a central part of former Acting Director Edward DeMarco's strategic plan.

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