Mortgage

FHFA Proposal Would Align GSEs’ Practices for TBA-Eligible MBS

As Fannie Mae and Freddie Mac continue moving toward a single security, the Federal Housing Finance Agency today issued a proposed rule directing the GSEs to harmonize their programs, policies and practices that affect the prepayment rates of to-be-announced-eligible mortgage-backed securities.

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Hensarling, Delaney Release Draft of Bipartisan GSE Reform Bill

Marking the 10th anniversary of the conservatorship of housing GSEs Fannie Mae and Freddie Mac, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Rep. John Delaney (D-Md.) today circulated draft legislation that would repeal the GSEs’ federal charters and direct Ginnie Mae instead to guarantee privately insured mortgage-backed securities.

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IRS Issues Tax Ruling on GSE ‘Single Security’ Exchanges

As part of the Federal Housing Finance Agency’s “single security initiative” to standardize the terms for mortgage pass-through certificates issued by Fannie Mae and Freddie Mac, holders of existing related GSE securities will have an opportunity to exchange them for the new standard security.

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Easing Continues on Business, Residential Mortgage Loans

In the previous quarter, banks kept terms and standards for business loans unchanged or eased them slightly, while tightening slightly on commercial real estate loans and easing in most residential mortgage loan categories, according to the Federal Reserve’s latest senior loan officer opinion survey released today.

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