Friday, October 19, 2018

GSEs

MTGLQ Investors Buys $1.88B in NPLs from Fannie Mae, $4.4B RPL Sale Announced

MTGLQ Investors LP, a Goldman Sachs subsidiary, is the winning bidder on five pools of nonperforming loans (NPLs) totaling $1.88 billion in unpaid principal...

Fannie Mae Selects Hugh Frater to Serve as Interim CEO

Hugh R. Frater will serve as interim CEO at Fannie Mae starting on October 16.Frater succeeds Timothy J. Mayopoulos, who announced his resignation in July.Frater...

Fannie Mae Promotes John Forlines to SVP and Chief Risk Officer

John Forlines has been promoted to senior vice president and chief risk officer (CRO) at Fannie Mae.Forlines has been interim CRO since March 2018....

Freddie Mac Now Using DocMagic’s E-Vault Technology

Freddie Mac has implemented DocMagic’s SaaS-based e-vault technology and SmartREGISTRY platform.DocMagic’s e-vault provides safe and secure storage for sensitive loan documents. It also automatically parses and...

Bipartisan Proposal to ‘Restart the Much-Needed Dialogue’ on GSE Reform

Seeking to “restart the much-needed dialogue around housing finance reform,” U.S. Rep. Jeb Hensarling (R-Texas), chairman of the House Committee on Financial Services, along...

Tim Mayopoulos Stepping Down as CEO of Fannie Mae

Timothy J. Mayopoulos is stepping down as CEO of government-sponsored enterprise Fannie Mae by the end of the year, the company announced Monday.David Benson...

FHFA Cancels Plan to Explore Use of Alternative Credit Scoring Models by GSEs

Due to the implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155) in May, the Federal Housing Finance Agency (FHFA) has for...

Trump Administration Advances Plan for Housing Finance Reform

The Trump Administration on Thursday introduced a housing finance reform plan that - similar to past proposals - would lessen the government's footprint in...

Fannie Mae Announces Seventh Reperforming Loan Sale

Fannie Mae is auctioning a portfolio of approximately 27,000 reperforming mortgage loans (RPLs) with total unpaid principal balance (UPB) of approximately $6.17 billion.This is...

FHFA Seeks Feedback on Proposed Capital Reserve Structure For Fannie, Freddie

How much capital should government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have in their reserves in order to adequately protect taxpayers from a...

Freddie Mac Hires John Krenitsky as SVP and Chief Compliance Officer

John Krenitsky has joined Freddie Mac as senior vice president and chief compliance officer.Krenitsky has more than two decades of experience in the global...

Veros, IDS Deliver Integrated Solution for GSEs’ UCD Data Submissions

Veros Real Estate Solutions, a developer of enterprise risk management, collateral valuation, and predictive analytics services, and mortgage document preparation vendor International Document Services Inc. (IDS)...

Cloudvirga Delivers Single-Click, Dual-AUS Submission of Loan Data

Mortgage point-of-sale (POS) software provider Cloudvirga recently launched single-click submission of loan data to Freddie Mac’s and Fannie Mae’s automated underwriting systems.The dual-AUS submission...

Fannie Mae Sells Two Reperforming Loan Pools with Aggregate UPB of $1.96 Billion

NRZ Mortgage Holdings LLC (Fortress) and Towd Point Master Funding LLC (RMBS Cerberus) are the winning bidders on two separate pools of reperforming mortgage...

Freddie Mac Needs Treasury Draw of About $300 Million

Government-sponsored enterprise Freddie Mac will require a Treasury draw of about $300 million in order to cover losses it incurred in the fourth quarter...

Fannie Mae Will Require Treasury Draw of About $3.7 Billion

Government-sponsored enterprise Fannie Mae saw a fourth quarter net loss of $6.5 billion and will require an infusion of capital from the U.S. Treasury...

FHFA Extends Deadline for Feedback on GSEs’ Use of Alternative Credit Scoring Models

The Federal Housing Finance Agency (FHFA) has extended the deadline for feedback on whether government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac should consider...

Senate Bill Would Reverse FHFA Ruling Barring ‘Captive Insurers’ from FHLB Membership

A bipartisan bill introduced in the Senate would reverse a 2016 ruling from the Federal Housing Finance Agency (FHFA) to disallow captive insurance companies...

Freddie Mac Rolls Out ACIS Forward Risk Mitigation

Freddie Mac has expanded its Agency Credit Insurance Structure (ACIS) program with ACIS Forward Risk Mitigation (AFRM), a front-end credit risk transfer (CRT) offering...

To Avoid Treasury Draw, FHFA Reinstates GSEs’ Capital Buffers at $3B Each

In order to avoid a possible taxpayer draw from the U.S. Treasury resulting from changes in the corporate tax code, the Federal Housing Finance...