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"Ultimately, Truth Prevails"

July 2017
Thursday July 13th 2017
Housing Finance Reform: Maintaining Access for Small Lenders -
Occurs July 20th at 10:00 am.
Experts weigh in: Is American housing policy at a historic crossroads? - HousingWire
Monetary Policy and the Economy - C-SPAN (video)
FHFA’s MBS litigation offers 25 billion reasons why government should hire private law firms - Reuters
Short Takes: A Big Earnings Boost for Fannie and Freddie?... - Inside Mortgage Finance
Fannie Mae Off to Hot Start, Freddie Mac Pushing Past Market ‘Disruption’ That Slowed Its First Quarter Production - REBusiness Online
U.S. Fed buys $5.7 billion of mortgage bonds, sells none - Reuters

Wednesday July 12th 2017
New filing in the Saxton case, click here to view.
Peter Chapman writes, "The Clerk for the Eighth Circuit released the Saxton Plaintiffs' reply brief today. The Saxton Plaintiffs include a chart on pages 15 and 16 showing that FHFA and Treasury's justifications for the Net Worth Sweep do not agree with the factual allegations in the Saxton Complaint. As a result, the Saxton Plaintiffs argue, Judger Reade's dismissal of their lawsuit should be reversed and the District Court should review evidence in a trial to determine which version of the story surrounding the Net Worth Sweep is correct."
New filing in the Rop case, click here to view.
Peter Chapman writes, "Judge Maloney placed his stamp of approval on the parties' briefing schedule today."
FHFA Announces $5.5 Billion Settlement with Royal Bank of Scotland -
RBS finally settles multibillion-dollar lawsuit with FHFA over mortgage-backed securities - HousingWire
Willy Walker on Dodd-Frank, CMBS and the Forthcoming Economic Renewal - Commercial Observer
Federal Housing Finance Agency should proceed with caution on chattel loan pilot program, NAFCU says - Financial Regulation News
Progress on the single security is an unheralded success - Urban Institute

Tuesday July 11th 2017
New filing in the Rop case, click here to view.
Peter Chapman writes, "FHFA and Treasury have advised the Rop Plaintiffs -- no surprise -- that they intend to file motions to dismiss the complaint. The Rop Plaintiffs -- no surprise again -- have advised FHFA and Treasury that they intend to move for summary judgment. With that complicated briefing in mind, the parties have agreed to a briefing schedule stretching to Dec. 4, 2017, and a copy of their request for Judge Maloney to rubber stamp that timetable is (linked above)."
More GSE Cases Filed Arguing that the FHFA’s Structure is Unconstitutional - Inside Mortgage Finance
Will Rep. Hensarling Deal on GSE Reform? - Inside Mortgage Finance

Monday July 10th 2017
New filing in the Deloitte case, click here to view.
Peter Chapman writes, "The Edwards Plaintiffs, without objection from FHFA and Deloitte, ask the Eleventh Circuit to re-caption the appellate proceeding to reflect that FHFA was substituted for the Edwards Plaintiffs."
NAMB Pres Fred Kreger on NAR GSE Proposal - The National Real Estate Post
A Breakout Quarter for Nonprime MBS; $1.08 Billion of Deals in 2Q17 - Inside Mortgage Finance
Bruce Berkowitz On Fannie, Freddie And Sears [ TRANSCRIPT] - Valuewalk
From a conference call held on June 29th.
Link to pdf file -
This is quite possibly the key point for the whole week -
"Some of you will recall the only reason Obamacare exists is that Fannie Mae and Freddie Mac have been looted to the tune of billions..."
Fletcher: More competition in mortgage market will result in more affordable housing -
Good comment after the article.
One Voice on GSE Reform - LinkedIn

Saturday July 8th 2017
July 8: Repent and reform! A collection of current thoughts on changing Fannie & Freddie – maybe next year? -

Friday July 7th 2017
Any Solution Will Be Dependent Upon The GSEs Being Capitalized - Seeking Alpha by Glen Bradford
Sounding The ‘Alarm’ on Fannie Mae and Freddie Mac - Huffington Post
Jerome Powell has some curious ideas about housing finance - Financial Times
Free registration may be required for access.

Thursday July 6th 2017
New filings in the Perry case.
Class Plaintiffs’ Motion for Leave to File a Reply To FHFA’s Response to their Petition for Panel Rehearing
Class Plaintiffs’ Reply in Support of their Petition for Panel Rehearing
Peter Chapman writes, "The Class Plaintiffs delivered a short reply to the D.C. Circuit yesterday pointing out the major flaws in FHFA's novel theory that GSE shareholders' rights mutate as the securities change hands in the secondary market. Copies of the Class Plaintiffs' request to file the reply and the reply are (linked above)".
The Case for Housing Finance Reform -
Housing finance reform: Remarks by Federal Reserve Governor Jay Powell - AEI
Fed Governor Powell: Here are 5 principles for housing finance reform - HousingWire
Fed Governor Powell: It’s Now or Never on GSE Reform - Inside Mortgage Finance
Fed's Powell says current US housing finance system 'unsustainable' - CNBC
Fed official warns it's 'now or never' for reforming Fannie and Freddie - Washington Examiner
Small lenders have a big stake in GSE reform - Scotsman Guide
Changes to credit scoring making it easier to buy a home? - Fox Business Video
Featuring Collingwood Group Chairman Tim Rood
The Spirit Of The Charter In Exchange For Public Mission -
FHFA Quietly Holds a Forum on SFR. More GSE Deals in the Works? - Inside Mortgage Finance
The Mortgage Professor: Manufactured housing: A new role for Fannie and Freddie?
U.S. Fed buys $3.7 billion of mortgage bonds, sells none - Reuters

Wednesday July 5th 2017
New order in the Piszel case.
Peter Chapman writes, "The High Court entered an order Monday extending the time to file responses to Mr. Pizel's petition to Aug. 9, 2017."
This Senate Effort Could Lead to Another Housing Bubble - The Daily Signal
Tim Howard comments on his recent meeting with David Stevens - Howard on Mortgage Finance
GSE Reform: Don’t Forget the Federal Home Loan Bank System - Inside Mortgage Finance
RBS on brink of settling chunk of pre-crisis US mortgage probe - Sky News
[Counterpoint] Here's how small lenders can support GSE reform - HousingWire
Will housing finance reform hurt small banks? - National Mortgage News
Subscription required for full access.

Monday July 3rd 2017
Fannie Mae Monthly Summary May 2017 -
Fannie Mae Issues May Volume Summary - Mortgage News Daily
Blog: GSE reform returns to center stage - Scotsman Guide
Are Fannie Mae and Freddie Mac Headed for Splitsville? -

Saturday July 1st 2017
FHFA Finds New Way to Irk GSE Shareholders - Turnarounds & Workouts
Creditors of Financial Institutions Beware — Perry v. Mnuchin Marks a Significant Expansion of the Government’s Power to Expropriate -

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