GSEs

Fannie and Freddie's profits depend on having their obligations backed by the U.S. Treasury. Therefore they should have to pay a sensible price for this backstop — just like big banks.

Nonbank servicers selling and buying Fannie and Freddie MSRs must meet new capital and liquidity requirement to transfer servicing.

WASHINGTON — The Financial Stability Oversight Council is encouraging mortgage agencies to continue clarifying when lenders must repurchase defective loans.

Lost in the debate so far over Shelby's regulatory relief bill are the significant changes it makes to the housing finance system. It essentially takes consensus elements from multiple past stabs at reform, leaving out the most controversial parts and making future reform far easier.

It's a good idea to raise the asset threshold at which financial institutions are automatically designated as systemically important financial institutions. But Sen. Richard Shelby's proposed legislation for regulatory relief does require one crucial change.

The regulatory relief package coming before the Senate Banking Committee Thursday would force the Federal Housing Finance Agency to withdraw the contentious proposal within 30 days.

As major banks have pulled back from originating Federal Housing Administration single-family loans, nonbank mortgage lenders have become bigger players in the Ginnie Mae program.

The Federal Housing Finance Agency provided more details Friday about key features for the new single security that will be issued by Fannie Mae and Freddie Mac.

JPMorgan Chase has purchased $45 billion in servicing rights from embattled mortgage firm Ocwen Financial.

Other regional Federal Home Loan Banks are lining up so their members can securitize FHA and VA loans through Chicago FHLB conduit.

The administration's signature loan modification and refinancing programs will be extended for one year to help borrowers "who continue to face challenges," the director of the Federal Housing Finance Agency said.

Fannie and Freddie will have more room to finance affordable rental housing, but it is unclear if it's enough to prevent possible disruptions later this year.

Housing affects too many Americans to simply cast out government involvement, especially where the government-sponsored entities and Ginnie Mae are concerned.

Bolstered by higher originations, Freddie Mac reported Tuesday that net income was $524 million for the first quarter, up from $227 million a quarter earlier.

A House subcommittee approved a bill Wednesday that would redirect money from an affordable housing fund that receives money from Fannie Mae and Freddie Mac into another program run by HUD.

Freddie Mac has planned its first Extended Timeline Pool Offering, the government-sponsored entity announced this week.

In another escalation of Quicken Loans' ongoing clash with the government, the Department of Justice on Thursday filed a lawsuit alleging shoddy underwriting by the company.

Bill Emerson, chief executive of Quicken Loans, said at a recent conference that the threat of government probes and a lack of regulatory clarity are making FHA lending less attractive.

Federal Housing Finance Agency Director Mel Watt just made one of the biggest policy decisions of his 14-month tenure — but so far it has hardly caused a ripple on Capitol Hill.

The Topeka FHLB's plan to allow participations in newly issued mortgage pools may benefit members institutions and the bank itself – and could soon be imitated by other Home Loan Banks.