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Year in Review: FHFA News

MelWattFrom the start of QM to the end of quantitative easing, the past year saw plenty of big news in the mortgage and financial markets. As the new year rolls in, MReport is taking a look at some of the biggest FHFA headlines of 2014.

  1. FHFA Director Lays Out Strategic VisionAfter months of silence, FHFA Director Mel Watt took the stage at the Brookings Institution in May to outline his own plans for Fannie and Freddie. The new platform was built on three blocks: maintain, reduce, and build.
  2. FHFA Report Highlights Progress, Concerns at GSEsIn June, FHFA submitted its 2013 Report to Congress, which detailed findings from the agency's latest 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.
  3. FHFA Gains Support for Single Security ProposalFollowing FHFA's request for input on its proposal for a single security for Fannie Mae and Freddie Mac, the Urban Institute expressed support for the idea but concern that the agency may be unnecessarily slow in implementing such a plan.
  4. FHFA Releases Strategic Plan for Years AheadIn November, the agency released its plan for the coming years, which outlined three main goals: ensure safe and sound regulated entities; ensure liquidity, stability, and access in housing finance; and manage the enterprises' ongoing conservatorship.
  5. Fannie, Freddie Introduce Low Down Payment ProgramsFinally, commentators had mixed reaction to the news that Fannie and Freddie—under FHFA's direction—were relauching loan options for certain homebuyers that could cut down payments to as little as 3 percent.

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.
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