Freddie Mac

Housing finance reform

FHFA proposes living wills for Fannie and Freddie

The proposal would require the government-sponsored enterprises to craft resolution plans similar to regulations imposed on the largest U.S. banks.

By Neil Haggerty

December 23

Court cases

Supreme Court hints FHFA's Calabria could keep job after all

Many have assumed the high court would rule that presidents can fire the Federal Housing Finance Agency director at will. But during oral arguments in a case challenging the agency’s structure, some justices suggested they could stop short of such a decision.

By Hannah Lang

December 9

At issue is whether the powers afforded to Senate-confirmed directors such as FHFA chief Mark Calabria, who can only be fired for cause and do not answer to a board, are unconstitutional.

Career moves

Freddie Mac CEO David Brickman resigns, interim leader appointed

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

By Bonnie Sinnock

November 13

GSEs

Former FDIC head Sheila Bair to chair Fannie Mae board

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.

By Jon Prior

November 5

FSOC

Oversight council warns of systemic threat from Fannie, Freddie

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

By Hannah Lang

September 25

The council's announcement came weeks after the public comment period closed on the Federal Housing Finance Agency’s post-conservatorship capital framework for Fannie Mae and Freddie Mac.

GSEs

Calabria to Congress: If you don’t like crisis fee, then fund GSEs

Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

By Neil Haggerty

September 16

“By the charters of the GSEs, they are required to recapture those costs via income,” said FHFA Director Mark Calabria.

GSE reform

Could capital plan for Fannie and Freddie stymie homeownership?

The Federal Housing Finance Agency's proposal could undermine the companies’ mission to support the housing market and penalize consumers in underserved communities, industry and consumer groups say.

By Hannah Lang

September 8

CFPB

CFPB’s latest underwriting revamp seen as boon to fintechs, GSEs

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac.

By Kate Berry

September 2

Using alternative data means lenders often have to give up QM status, but some in the industry say that hurts borrowers' access to credit.

Deposits

PayPal picks Optus Bank, BofA's alleged sales push, Citi's snafu: Top stories of the week

Why PayPal just deposited $50 million in tiny Optus Bank; ex-Bank of America employees allege 'extreme pressure' to sell credit cards; the Citi snafu may bring fresh scrutiny to custodial banks; and more from this week's most-read stories.

August 28

Mortgages

Credit unions fear planned GSE fee could cut into mortgage profits

Refinancing has been one of the bright spots in a difficult year for lending, and the industry has concerns that a fee to be imposed by Fannie Mae and Freddie Mac could slow down the business.

By Jackie Stewart

August 28