According to the enterprise’s recent financial results, Freddie Mac posted a net income of $2.2 billion for Q1 and will pay as much in dividends to the U.S. Treasury. The income is lower than Q4 2016, as are the agency’s single-family revenues, purchase volumes, and mortgage-related investments. Freddie attributed these declines to largely steady interest rates and low market spreads.
Read More »Mnuchin Supports Financial CHOICE Act
After the Financial Services Committee's hearing on the Financial CHOICE Act, Treasury Secretary Steven Mnuchin expressed his approval of the act. The act was introduced during a hearing of the Committee by Commitee Chairman Jeb Hensarling on Wednesday as an alternative to the Dodd-Frank act. Financial CHOICE aims to end taxpayer-funded bailouts of big banks, impose tougher penalties for financial fraud and insider trading, and demand greater accountability from regulators.
Read More »Treasury Secretary Address Future of the GSEs, Promises Economic Growth
The recently confirmed Secretary of the Treasury, Steven Mnuchin, announced his ambitious goals for a U.S. tax-code overhaul by August on Thursday and also addressed the future of Fannie Mae and Freddie Mac.
Read More »GOP Suspends Rules, Advances Mnuchin Vote
Despite an ongoing boycott by Senate Democrats, the GOP members of the Senate Finance Committee used a parliamentary rule to advance the confirmation of Treasury Secretary nominee Steven Mnuchin to a full Senate vote on Wednesday.
Read More »Mnuchin Vote Delayed Following Democratic Revolt
Senate Democrats refused to take part in a vote on Treasury Secretary nominee Steven Mnuchin, citing alleged conflicting answers during his initial hearing.
Read More »Advocacy Groups Urge Regulators to Loosen Credit Access
Depending on who is reporting origination numbers, access to mortgage credit is either tight or loose. A group of 21 advocacy and civil rights groups let regulators know they think it is too tight.
Read More »Is GE Capital Too Big to Fail? Not Anymore
The FSOC reversed its determination that “material financial distress at [GE Capital] could pose a threat to U.S. financial stability.”
Read More »Freddie Mac Dodges A Bailout Bullet
The good news from Freddie Mac’s Q1 2016 Financial Results: Freddie Mac will not need a draw on Treasury for the time being. Now the bad news: Freddie Mac reported a multi-million dollar net loss for the first quarter.
Read More »‘Hardest Hit’ Areas Get More Relief from Treasury
The Hardest Hit Fund (HHF) was created under the government's Troubled Asset Relief Program in 2010 to help the areas that were deemed to have been hit hardest by the financial crisis. How is the latest—and final—round of funding going to be disbursed?
Read More »Treasury Set to Fight MetLife Over ‘Too Big to Fail’ Removal
The decision to remove the "systemically important" designation from MetLife has been viewed as a victory for opponents of Dodd-Frank Wall Street reform. However, they should not be so quick to celebrate, according to Treasury Secretary Jacob Lew.
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