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Tag Archives: Fannie Mae

Rule Proposed to Establish New GSE Housing Goals

New Homes

In accordance with the Housing and Economic Recovery Act of 2008, the Federal Housing Finance Agency (FHFA) announced on August 29 that it has proposed a rule to establish new housing goals for 2015 through 2017 for Fannie Mae and Freddie Mac.

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Report: Freddie Mac, Ginnie Mae Ignored ‘Red Flags’ in Fraud Case

A report filed last week by the Office of Inspector General of the Federal Housing Finance Agency (FHFA) states that GSEs Freddie Mac and Ginnie Mae ignored "red flags" with regards to a mortgage fraud scheme perpetrated by lenders Taylor, Bean, and Whitaker and Colonial Bank, which resulted in billions of dollars in losses for the GSEs.

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Investors Sue Federal Government Over GSE Profits

New York-based hedge fund giant Pershing Square Capital Management sued the U.S. government on August 14, alleging that common stockholders in Fannie Mae and Freddie Mac have been short changed since the government began sweeping profits from the GSEs into the U.S. Department of Treasury starting in 2012.

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GSE Reform Not Expected In the Near Term

The Kroll Bond Rating Agency recently released a study saying it does not believe there will not be any GSE reform for the housing finance market until at least 2016 and that lenders and investors should operate as if they do not expect such reform to happen for many years.

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FHFA Requests Input on Proposed Single Security Structure

In the first step of what is planned to be a multi-year effort, the Federal Housing Finance Agency(FHFA) has put out a request for industry input on the development of a common mortgage-backed security (MBS) designed to be issued and guaranteed by Fannie Mae or Freddie Mac.

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