GSE Links

November 11 2019

New filing in Fairholme vs FHFA.

Peter Chapman writes, “Judge Lamberth released his opinion this afternoon and entered an order saying Treasury must produce the documents Fairholme’s requested (or produce a privilege log identifying the documents it won’t produce and the reasons why).”

Judge Lamberth’s opinion may be viewed here

Judge Lamberth’s order may be viewed here

Reuters: Fannie, Freddie government lifeline cut could cause economic pain: DoubleLine

Value Walk: “An accounting irregularity bordering on fraud”, Fannie Mae, Freddie Mac contradict themselves over net worth sweep

Bill Maloni’s GSE Blog: Message to FHFA’s Mark Calabria

November 8 2019

Wall Street Journal: JPMorgan Deal Shows Possible Path to Smaller Fannie and Freddie

Reuters: Exclusive: Freddie Mac hires McKinsey to review capital with government overhaul looming

November 6 2019

New filing in Fairholme vs. FHFA, click here to view

Peter Chapman writes, “An additional lawyer from Hagens Berman, representing Washington Federal, requested access to non-public discovery materials this week”

DS News: Calabria on GSE Reform: “Headed in the Right Direction”

American Action Forum: Update on GSE Reform

American Action Forum: Housing Finance Reform This Year Under Director Mark Calabria

November 5 2019

New filing in Rafter vs. U.S., click here to view

Peter Chapman writes, “Rafter Plaintiffs tell Chief Judge Sweeney the Fifth Circuit’s Collins decision is in the minority among the U.S. Circuit Courts of Appeal and, in short, urge her to ignore it.”

New filing in Angel vs Fannie Mae, et al.

Peter Chapman writes, “The parties have agreed FHFA’s brief will be filed on or before Dec. 12; Mr. Angel will file any reply brief on or before Jan. 22; and any final briefs will be filed on or before Feb. 12” The filings may be viewed here, and here.

New filing in Fisher Read More

October 31 2019

New filing in Collins vs FHFA.

Peter Chapman writes, “Blackwells Capital filed an amicus brief urging the High Court to accept the Collins Plaintiffs’ petition for review of the Fifth Circuit’s decision, and the government filed its brief saying the court should not review the constitutional and remedial topics the Collins Plaintiffs request but should review HERA as requested in its appeal. ”

Blackwells Capital amicus brief may be viewed here

The government’s brief may be viewed here

Bloomberg Law: Freddie Mac Is Focused on ‘Speed to Exit’ U.S. Control, CEO Says

National Mortgage News: Freddie Mac plans to push hard toward conservatorship exit

American Banker: Trump administration wants Supreme Court to back GSE profit sweep

Seeking Alpha: Fannie Mae net worth rises $4B in Q3

October 30 2019

New filing in Collins vs. FHFA, click here to view

Peter Chapman writes, “Treasury delivered its petition for review of the Collins decision to the U.S. Supreme Court last week. Treasury wants the High Court to say HERA’s anti-injunction and succession provisions silence shareholder complaints.”

Market Watch: Borrowers won’t be left behind as Fannie and Freddie privatize, regulator says

Housing Wire: Mark Calabria: Fannie Mae and Freddie Mac will increase focus on exiting conservatorship

Bloomberg Law: U.S. Seeks Supreme Court Review of Fannie-Freddie Profit Sweep

Value Walk: Fannie and Freddie confusion: Is the net worth sweep really over?

October 29 2019

Wall Street Journal: Fannie, Freddie Told to Prepare for Return to Private Sector

National Mortgage News: Are Fannie, Freddie ready for competition? ‘Bring it on,’ CEOs say

National Mortgage Professional Magazine: Piecemeal GSE Reform Is Risky

The M Report: GSE Reform Taking its Next Steps Forward

American Banker: FHFA’s Calabria talks GSE footprint, coordination with other agencies

Bloomberg Law: FHFA Issues New Strategic Plan for Oversight of Read More

September 30 2019

New filing in Wazee vs FHFA, click here to view

Peter Chapman writes, “Treasury alerted Judge Alejandro to the Fifth Circuit’s decision in Collins today, explaining that she should see the decision as supporting dismissal of Wazee’s complaint. ”

Bloomberg: Fannie, Freddie Permitted to Boost Capital Cushions by Billions

American Banker: Fannie, Freddie will retain $45B in capital in first step toward privatization

GlobeSt: Treasury Plan Keeps GSE Status Quo. For Now

September 27 2019

New filing in Bhatti vs. FHFA, click here to view

Peter Chapman writes, “In a letter addressed to the Eighth Circuit, the Justice Department says the Fifth Circuit decision in Collins “supports the government more than plaintiffs.”

National Review: The Treasury’s Housing Plan Would Pave the Way for Another Financial Crisis

American Banker: GSE investors seek Supreme Court ruling on FHFA constitutionality

September 26 2019

Seeking Alpha: GSE Reform: More Thoughts Based On Reader Comments

September 25 2019

New filing in Bhatti vs FHFA, click here to view

Peter Chapman writes, “FHFA tells the Eighth Circuit the majority of the Fifth Circuit in Collins v. FHFA got it wrong.  FHFA urges the Eighth Circuit to pay closer attention to Judge Higginson’s dissent and affirm Judge Schiltz’s decision dismissing the Bhatti Plaintiffs’ lawsuit in Minnesota.”

Bloomberg: Letter to the Editor: Don’t Mess With Fannie Mae and Freddie Mac

• • • The letter is posted as the first comment under the editorial. 

American Banker: Banks counting on GSE reform to stop mortgage share erosion

Seeking Alpha: This Week: GSE Capital Retention After 11 Years Of Drain

Value Walk: Understanding The Various Classes Of Fannie & Freddie Shares

September 24 2019

Forbes: Administrative Reforms for the GSEs Should Not Include More Bailouts

National Mortgage Professional: Stevens Warns of Potential Hiccups in GSE Reform Push

Dealbreaker: Trump-Appointed Officials Read More

August 30, 2019

American Banker: Will GSE reform get some clarity from long-awaited blueprints?

American Banker: ‘You don’t have to like the GSEs’: Comments of the week

August 29 2019

American Banker: BankThink GSE bailout was really a stickup

August 28 2019

Housing Wire: Trump administration to release plan for Fannie, Freddie after Labor Day

August 27 2019

Wall Street Journal: A Primer on the Future of Fannie, Freddie

American Banker: 6 banking issues to watch when Congress reconvenes

Fortune: Ex-Fannie Mae CEO: Housing Will Be Fine in the Next Recession

Bill Maloni’s GSE Blog: Keeping my eyes on the bad guys and other things…..

August 23 2019

Bloomberg: Fannie-Freddie Revamp Risks Destabilizing Economy, Democrat Says

Deal Breaker: Fannie Mae, Freddie Mac Are Back And, Uh, Pretty Much The Same As Before

Mortgage News Daily: Treasury Report Sparks Rumors of Fannie/Freddie Liberation

The M Report: Bringing Fannie and Freddie out of Conservatorship

August 22 2019

Wall Street Journal: Fannie and Freddie Plan Is Likely Released Next Month

Fox Business: Treasury Plan for Fannie Mae & Freddie Mac near complete

Fox Business: Treasury reform plan for Fannie, Freddie in final stages: Gasparino

American Banker: BankThink Taxpayers are the GSEs’ true stockholders

August 20 2019

New filing in Fairholme vs. FHFA, click here to view

Peter Chapman writes, “In a reply delivered to Judge Lamberth yesterday, Fairholme reminds the court “Treasury [has a] starring role in matters concerning the Net Worth Sweep,” the subpoena is designed to avoid production of documents previously produced, and Treasury’s conclusory parroting of discovery-related buzzwords — rather than sharing facts — fails to demonstrate any undue burden. ”

Housing Wire: Add another 6 months to Fannie, Freddie recap and release timeline

JD Supra: FHFA Publishes Final Rule on Validation and Approval of Credit Score Models

Bill Maloni’s Read More

July 31 2019

New filing in Fairholme vs. FHFA, click here to view

Peter Chapman writes, “In a joint filing yesterday the parties tell Judge Lamberth they didn’t complete factual discovery by July 15 and need four additional months.  With that in mind, the parties propose to extend the deadlines previously established and set Mon., Oct. 19, 2020, as the trial date for the shareholders’ contract claims. ”

Inside Sources: Safety, Soundness of Housing Finance System of Utmost Importance in Credit Scoring Debate

Yahoo! Finance: Fannie Mae Announces Scheduled Release of Second Quarter 2019 Financial Results

July 30 2019

New filing in Wazee vs. FHFA, click here to view

Peter Chapman writes, “The parties alerted Judge Alejandro in Philadelphia that Director Calabria displaced Acting Director Otting and FHFA advised Judge Alejandro that, under Director Caliabra, FHFA believes its structure is constitutional.”

American Banker: A GSE plan before the election has risks — but so does doing nothing

Forbes: Kraninger’s CFPB Takes Major Step To Fix Housing Finance

July 29 2019

Reuters: Trump’s ambitious Fannie, Freddie overhaul faces hurdles

Reuters: Factbox: Fannie, Freddie and the government: it’s complicated

Bill Maloni’s GSE Blog: Why wait on the Fifth Circuit? 

July 26 2019

New filing in Washington Federal vs. U.S., click here to view

Peter Chapman writes, “Washington Federal filed a redacted copy of its eight-month-old brief opposing the government’s motion to dismiss for public review today”

Wall Street Journal: CFPB Could Curb High-Debt Mortgages

Fox Business: Trump to nix Fannie, Freddie ‘patch,’ which allows indebted borrowers to get home financing

Reuters: U.S. regulators to end mortgage lending exemption for Fannie, Freddie in 2021

July 25 2019

New filing in Rop vs. FHFA, click here to view

Peter Chapman writes, “Judge Maloney entered an order this afternoon substituting Director Calabria for Acting Director Read More

June 28 2019

National Law Review: Inside The Beltway: Housing Reform In 2019?

GlobeSt: As Talk about GSEs’ Overhaul Swirls, Multifamily Makes a Good Case

June 27 2019

Yahoo! Finance: Barclays and Annaly Launch New Research Study, Government-Sponsored Enterprise (GSE) Reform: Unfinished Business

National Mortgage Professional: New Report Envisions Post-Conservatorship Housing Policy Landscape

Seeking Alpha: Barclays, Annaly weigh in on Frannie reform

June 26 2019

Wall Street Journal: Push to Overhaul Fannie, Freddie Nudges Up Mortgage Costs

American Action Forum: Should Fannie Mae and Freddie Mac be Designated as Systemically Important Financial Institutions?

National Mortgage News: Lawmakers spar over whether Fannie, Freddie are SIFIs

Bloomberg: Fannie, Fintech Face Congress With Wall Street Watching Closely

June 25 2019

Housing Wire: Wall Street insider Craig Phillips leaves Treasury without Fannie, Freddie reform

June 24 2019

DS News: The Week Ahead: Senate Sets Sights on Fannie, Freddie

Mortgage Professional America: Debate grows over Fannie and Freddie securities guarantee

Bill Maloni’s GSE Blog: GSEs, the POTUS, and some Iran stuff

June 21 2019

Seeking Alpha: Compass Point rates Fannie, Freddie neutral on reform uncertainty

June 20 2019

National Mortgage News: Where GSE reform could be headed and what it could mean for lenders

June 19 2019

Housing Wire: Moody’s: Increased competition for Fannie, Freddie would be a credit negative

Howard on Mortgage Finance: Assessing the FHFA Capital Rule

June 18 2019

Investors Unite: It Was a “Stick-up” Not a “Bailout”

Market Watch: Will Fannie and Freddie get a new sibling?

Bloomberg: Craig Phillips Leaves Treasury Before Fannie Report Is Finished

American Action Forum: Tracking the Housing Market

June 17 2019

Bill Maloni’s GSE Blog: Who’s leading this GSE dance?

Newsmax: Trump and Calabria Begin to Reform Fannie and Freddie

Bloomberg: A $4 Trillion Risk Tied to Freeing Fannie and Freddie Could Hurt U.S. Homebuyers Read More

May 31 2019

Wall Street Journal: Administration Nears Plan to Return Fannie, Freddie to Private Ownership

Fox Business: Trump administration in early stages of possible $100B offering of Fannie Mae, Freddie Mac: Exclusive

Seeking Alpha: Fannie, Freddie closer to private ownership

May 30 2019

Bloomberg: A $4 Trillion Plan Could Make or Break Dreams of U.S. Homebuyers

CNBC via ‘The Exchange’: What you need to know before getting into housing market

May 29 2019

Housing Wire: FHFA appoints new director of Legislative Affairs as Calabria hiring spree continues

Mortgage Professional America: Three new senior advisors join FHFA

May 28 2019

New filing in Angel vs. Fannie Mae, click here to view

Peter Chapman writes, “Judge Lamberth denied Mr. Angel’s request to reconsider dismissal of his lawsuit”

Think Realty: GSE Reform: Housing Finance Savior or Looming Disaster?

Housing Wire: Calabria: Fannie Mae may be privatized before Freddie Mac, or vice versa

Seeking Alpha: U.S. Housing Reform And The Future Of CRTs

May 24 2019

New filing in Fannie/Freddie Consolidated Class Action, click here to view

Peter Chapman writes, “Judge Lamberth signed off on the parties’ scheduling order directing:

— discovery to wrap up by July 15, 2019;

— class certification and other pre-trial briefing to conclude by Dec. 31, 2019; and

— a trial on the shareholders’ contract claims to begin on Nov. 19, 2020

Reuters: U.S. govt could stagger Fannie, Freddie privatization

American Banker: Give Fannie, Freddie the same capital standards as everybody else

American Banker: Should Fannie, Freddie be labeled ‘systemically important’?

Seeking Alpha: FHFA’s Calabria Says Common Will Continue To Trade

Bill Maloni’s GSE Blog: There still are GSE damage seekers; plus Don Layton stayed too long

May 23 2019

Chicago Agent Magazine: The view from D.C.

National Mortgage News: Will housing issues be a focus of 2020 Read More

April 30 2019

DS News: GSE Reform: Guarding the Market

DS News: FHFA’s Calabria and the Future of the Mortgage Market

April 29 2019

Seeking Alpha: Fannie And Freddie: October Named For Taking Capital Raise Steps

DS News: FHFA Checks in on Fannie Mae and Freddie Mac

Yahoo! Finance: Fannie Mae Announces Scheduled Release of First Quarter 2019 Financial Results

Bill Maloni’s GSE Blog: Color me GSE-confused, but that’s not new

April 25 2019

Wall Street Journal: Fannie and Freddie’s Uncertain Future, Explained

April 24 2019

Wall Street Journal: How Fannie and Freddie Prop Up America’s Favorite Mortgage (Video)

American Banker: Card issuers go social; Calabria vows to push for GSE overhaul

Deal Breaker: Oh, Look, Another Fannie-Freddie Plan That’s Sure To Go Nowhere

DS News: FHFA’s Calabria on “Meeting the Mileposts” for GSE Reform

April 23 2019

New filing in Fannie Mae, et al., click here to view

Peter Chapman writes, “Mr. Angel’s reply is due May 6. A copy of the order extending the deadline may be viewed above.”

Wall Street Journal: Trump-Appointed Official Promises Full Push to Overhaul Plumbing of Mortgage Market

The Real Deal: Going private: Fed housing finance chief details plan to end Fannie-Freddie oversight

American Enterprise Institute: Why the universal use of the 30-year mortgage is dangerous

April 19 2019

New filing in Bhatti vs FHFA, click here to view

Peter Chapman writes, “The Eighth Circuit did not schedule oral argument in Bhatti v. FHFA for May, and the Bhatti Plaintiffs sent the clerk a letter Friday asking that oral argument not be scheduled in June.”

New filing in Angel vs. Fannie Mae, et al., click here to view

April 18 2019

Seeking Alpha: Have We Seen The Last Frannie Net Worth Sweep?

DS News: Under Construction: Housing Finance Reform

The Heritage Foundation: Housing Read More

March 29 2019

Fox Business: Federal housing reform is headed in the right direction: Former Fannie Mae executive

Yahoo! Finance: Ben Carson: HUD will take ‘as much time as is necessary’ on housing finance reform

American Action Forum: A Busy Week for Housing Finance Reform

Housing Wire: Housing industry responds to Trump’s calls for housing finance reform

Scotsman Guide: Trump memo calls for additional GSE-reform plans

Seeking Alpha: It’s only the start for Frannie reform, analysts say

24/7 Wall St: Why Reform Efforts for Fannie Mae and Freddie Mac May Remain Elusive

RIS Media: GSE Reform: Trump Calls for Ceasing Conservatorship, Protecting Taxpayers

Mortgage News Daily: No Surprise: Ambitious Plan to “Fix” Entire Housing Market Met With Mixed Reaction

American Banker: GSE capital rule expected this summer: FHFA’s Otting

March 28 2019

Senate Banking Committee: Chairman’s Housing Reform Outline: Part 1

Senate Banking Committee: Chairman’s Housing Reform Outline: Part 2

White House Presidential Memorandum: Memorandum on Federal Housing Finance Reform

Fox Business: Fannie and Freddie reform could get snarled in White House infighting

Politico: Trump directs agencies to develop plans to overhaul housing finance

Bloomberg: Trump Steps in Fannie-Freddie Mess With a Fix Still a Ways Off

Reuters: Trump requests reform plans for Fannie Mae, Freddie Mac

Financial Times: Trump eschews unilateral action on Fannie and Freddie

Market Watch: Kudlow, who called Fannie, Freddie profit sweep a ‘scam,’ is at center of White House housing reform plans

American Banker: Trump directs Treasury, HUD to develop GSE reform plan

Scotsman Guide: Q&A: Small lender concerns with Crapo’s GSE reform plan

Mortgage Orb: Trump Directs Treasury, HUD to Enact Housing Finance Reform

 UPI: Trump calls for end of conservatorship of Fannie Mae, Freddie Mac

Market Watch: White House keeps option of going alone on Fannie Mae, Freddie Mac privatization

Housing Wire: Trump Read More