Fannie Mae and Freddie Mac are set to send another $6.8 billion to the U.S. Treasury after posting a mild increase in profits for the third quarter. By the end of this year, the two GSEs, which have been in conservatorship since 2008, will have returned a combined $225.5 billion to taxpayers.
Read More »Fannie, Freddie Name CEO for Common Securitization Company
Fannie Mae and Freddie Mac jointly announced that David M. Applegate will be the first CEO of Common Securitization Solutions (CSS), which was created by the GSEs to operate a new secondary mortgage market infrastructure, Common Securitization Platform (CSP).
Read More »Pershing Square CEO Drops One of His GSE Suits
Pershing Square Capital Management filed a voluntary notice of dismissal in the U.S. District Court for one of its lawsuits against the federal government over the sweeping of GSE profits into the U.S. Department of the Treasury.
Read More »Fannie Mae’s Book Expands for First Time This Year
According to Fannie's monthly volume summary, the mortgage giant's book totaled $3.12 trillion as of September 30, representing an annualized growth rate of 1.5 percent compared to August's decline of 4.0 percent.
Read More »Freddie Mac’s Board Elects New Member
Freddie Mac's board of directors gained a new member, with mortgage banking and finance veteran Thomas M. Goldstein elected to the role.
Read More »Freddie Mac’s Portfolio Grows in September
According to the company's volume summary, Freddie Mac's total portfolio grew last month at an annualized rate of 2.2 percent, bringing the year-to-date average growth rate to -1.1 percent. The only other time the portfolio came up positive this year was in July, when it expanded at a rate of just 0.1 percent.
Read More »Fed, SEC Approve Finalized QRM Rule
The residential mortgage loan risk retention rule, known as the "qualified residential mortgage" (QRM) rule, was approved on Wednesday by the U.S. Federal Reserve Board and the Securities and Exchange Commission (SEC). The agencies are the last of the six groups charged with putting together the finalized rule.
Read More »Fannie Mae Appoints EVP, General Counsel
Former OneWest Bank vice chairman Brian P. Brooks is joining Fannie Mae as EVP, general counsel, and corporate secretary, according to an announcement from the company.
Read More »FHFA Director Talks Next Steps for Fannie, Freddie
In a speech on Monday, FHFA Director Mel Watt outlined the next steps the agency is taking to expand Americans' access to mortgage credit while ensuring that Fannie Mae and Freddie Mac are equipped to manage risk.
Read More »Regulators Set to Adopt Finalized QRM Rule
The so-called qualified residential mortgage (QRM) rule, which was put up for consideration by FDIC's board of directors Tuesday morning, would require banks to retain at least 5 percent of a loan's risk when packing mortgages to sell to investors in the secondary market. The QRM rule is one of the bigger provisions mandated by the 2010 Dodd-Frank Act, with co-author Barney Frank remarking in the past that risk retention is "the single most important part of the bill."
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