July 2019

July 17 2019

Bloomberg: Sometimes Analysts Have Good Ideas

Housing Wire: Former Freddie Mac CEO says GSEs should be regulated like utilities

Mortgage Professional America: Finance reform may be coming, but not soon enough for some

LBM Journal: Affordable housing and GSE reform: Can Congress get anything done?

Bill Maloni’s GSE Blog: More Hot Summer GSE Cats and Dogs

July 16, 2019

Forbes: The Best Housing Finance Reform Options For The Trump Administration

Fox Business: Treasury reportedly unlikely to advocate privatization of Fannie, Freddie

Law 360: FHFA Flip-Flop Underscores Flawed Design, 5th Circ. Told

July 15 2019

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

Peter Chapman writes, “Fairholme delivered a motion to Judge Lamberth today seeking to compel Treasury to share non-privileged documents Treasury doesn’t want Fairholme to see.  Fairholme complains to Judge Lamberth that Treasury has “decided effectively to excuse itself entirely from the discovery process” notwithstanding “Treasury was one of the architects of the Net Worth Sweep and has a direct, and massive, stake in the litigation and resolution of the implies covenant claim.”  Fairholme asks Judge Lamberth to direct Treasury to comply with the subpoena it served on Treasury in full without further delay.”

Bloomberg: Trump Team Wary of Fannie-Freddie Fix Before 2020 Election (Updated)

Housing Wire: Trump administration reportedly souring on sweeping Fannie, Freddie reform prior to 2020 election

Seeking Alpha: White House Corrects Fannie And Freddie Narrative

Market Watch: Fannie, Freddie overhaul could mean windfall for preferred stock, analyst says

Market Watch: Fannie, Freddie need explicit government guarantee, securities industry group says

July 12 2019

Bloomberg: Trump Team Grows Wary of Fannie-Freddie Fix Before 2020 Election

RESPA News: FHFA reverses constitutionality stance in shareholder case

Wall Street Journal: Former Freddie Mac CEO Plans to Keep Hand in Housing Finance

July 11 Read More

June 2019

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 2019

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 2019

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 2019

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

February 2019

Thursday February 28 2019

New filing in Owl Creek v United States, click here to view.

Value Walk: Calabria’s GSE Reform Could Trigger A Recession: Dick Bove

Reuters: Fannie Mae escapes lawsuit over foreclosure misreporting

Wednesday February 27 2019

The Wall Street Journal: Trump Pick to Oversee Fannie Mae and Freddie Mac Advances in Senate

Housing Wire: Senate Banking Committee approves Calabria as head of FHFA

Wharton: Mortgage Rates Are Down – but Is the Housing Market Looking Up?

Forbes: Why Slowing Home Price Growth Is Good For Everyone

Tuesday February 26 2019

Clinton Herald: Sustainable path needed

National Mortgage News: New York Fed to aggregate part of its Ginnie Mae holdings

Mortgage News Daily: Freddie Mac Portfolio Growth Slowed in January

Wilson Times: Former congressman ends political career in a cloud of disgrace

Monday February 25 2019

Fox Business: Fannie and Freddie fist fight brewing amid Trump administration infighting

Bloomberg: Kushner Cos. Seeks Federal Loan in Biggest Deal in Decade, Sources Say

Herald and News: U.S. home sales tumbled 1.2 percent in January

DS News: The Week Ahead: Counting Down to Mark Calabria Nom Vote

Bill Maloni’s GSE Blog: What will Mark Calabria do as head of the FHFA?

Friday February 22 2019

Street Insider: Odeon’s Dick Bove Sees High Probability GSEs Will Be Released from Conservatorships in 2019

JD Supra: Inside the Beltway: GSE Housing Reform and More…

American Banker: Senate panel sets vote on Calabria nomination for FHFA

American Banker: Say Watt? Former FHFA head gets sniffy about his misconduct, and proxy pressure builds

Thursday February 21 2019

RESPA News: NAR to Senate: Confirm Calabria to lead FHFA

Greensboro News & Record: Our Opinion: A sad exit for Mel Watt

In the Defense of Hedge Funds

Wednesday February 20 2019

American Banker: White House is making Read More

January 2019

Thursday January 31 2019

Associated Press: Investors Unite Teleconference: GSE Shareholder Litigation Update

American Banker: FHFA’s Otting gives Democratic leaders little detail on GSE plans

Bloomberg: Fannie-Freddie Regulator Now Welcomes Lawmaker Input on Revamp

Boston Agent Magazine: White House presses for changes at Fannie and Freddie

Housing Wire: White House walks back Otting comment on imminent GSE reform

Bloomberg Law: U.S. Mortgage Index Providers Prepare for Fannie-Freddie Launch

JD Supra: 9th Circuit: DU Does Not Make Fannie Mae a Consumer Reporting Agency

Market Watch: FHFA head offers olive branch to Congress on privatizing Fannie Mae, Freddie Mac

Wednesday January 30 2019

Investors Unite: GSE Shareholder Litigation Update Teleconference

Bill Maloni’s GSE Blog: It is the best of times, it is the worst of times…

The Wall Street Journal: Trump Won’t Act Alone to Get Fannie, Freddie Out of Government Control

Inside Mortgage Finance: Step 1 in GSE ‘Administrative’ Reform: Letting Fannie and Freddie Build Capital

Reuters: Trump expects Congress to help overhaul Fannie Mae, Freddie Mac

Bloomberg: Trump Administration to Unveil Fannie, Freddie Overhaul Soon

Market Watch: As Fannie-Freddie reform gets underway, here are the three big questions for the housing market

Washington Examiner: White House promises plan for Fannie and Freddie ‘shortly,’ won’t bypass Congress

Nasdaq: Trump expects Congress to help overhaul Fannie Mae, Freddie Mac

Street Insider: Freddie Mac (FMCC) Reports Resignation of Thomas M. Goldstein from Boar

Inside Mortgage Finance: Freddie MBS (Servicing) Grew Faster Than Fannie Sector in 2018

Prospect: The Trump Appointee Delivering a Jackpot for Hedge Funds

Dodd Frank Update: Dems give Otting ultimatum on GSE plans

The M Report: Crapo Puts Housing Finance Reform Front & Center

DS News: Crapo Focuses on Housing Finance Reform

American Banker: GSEs, data security top Senate Banking’s agenda

JD Supra: Subcommittee chairs announced by new House Financial Read More

December 2018

Friday December 28 2018

American Banker: Will 2019 bring long-awaited GSE reform?

Wednesday December 26 2018

National Mortgage News: On way out, Hensarling makes final case for GSE reform

Scotsman Guide: Blog: GSE reform is coming with or without Congress

Housing Wire: Experts weigh in on housing reform at House hearing

DS News: The Fate of Fannie and Freddie

National Mortgage News: For hedge funds, 2019 offers risks and rewards on Fannie-Freddie

Scotsman Guide: GSE reform returns to Capitol Hill

American Banker: Trump names OCC’s Otting as acting director of FHFA

Housing Wire: Trump taps OCC’s Otting to replace Watt as FHFA director

Friday December 21 2018

Bloomberg: For Hedge Funds, 2019 Offers Risks and Rewards on Fannie-Freddie

Reuters: Trump to name currency comptroller Otting as acting director of the FHFA

Washington Examiner: Trump names acting director for Fannie, Freddie oversight agency

Thursday December 20 2018

Mortgage Professional America: Mnuchin: I want to get Fannie, Freddie out of conservatorship

Mortgage News Daily: Fannie/Freddie “Reform” Discussion Heats Up Again

Seeking Alpha: GSE Investors Wait For Watt To Leave FHFA

Bill Maloni’s GSE Blog: Bum actors perform a very bad movie…

Wednesday December 19 2018

Bloomberg: Mnuchin Hints at Fannie-Freddie Changes to End U.S. Control

The Hill: Fannie and Freddie didn’t get a bailout; it was a stick-up

Monday December 17 2018

American Action Forum: Housing Finance Reform In One Picture

Friday December 14 2018

Seeking Alpha: Calabria Nomination As FHFA Director Good For GSE Preferreds

DS News: New Faces in Housing Regulation

Bill Maloni’s GSE Blog: New Year, New GSE Court Hopes??

Thursday December 13 2018

American Banker: It’s official: White House taps Calabria as head of FHFA

Housing Wire: It’s official: Trump nominates Mark Calabria to lead FHFA

The Real Deal: Trump taps Mark Calabria as new head of Federal Read More

November 2018

Friday November 30 2018

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

Peter Chapman writes, “The Bhatti Plaintiffs delivered their reply brief to the Eighth Circuit today.”

DS News: Examining FHFA’s Capital Standards Proposal

Tuesday November 27 2018

Bill Maloni’s GSE Blog: GSE Cats and Dogs and One Big Turkey

Monday November 26 2018

Delaware Bay Company: “Release the Hostages”

Wednesday November 21 2018

Wall Street Journal: Partisan or Deal Maker? Maxine Waters Rises as Banking Industry’s Overseer

Tuesday November 20 2018

New filing in Owl Creek vs. United States, click here to view.

Peter Chapman writes, “Owl Creek and other Jones Day clients submitted an unopposed motion to Chief Judge Sweeney today to correct some statements contained in their sealed brief opposing the government’s motion to dismiss about when they acquired their preferred stock in the GSEs. The corrections indicate that these shareholders purchased some of their securities prior to the conservatorship and purchased more thereafter.”

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

Peter Chapman writes, “FHFA, Fannie and Freddie delivered a reply in support of its partial reconsideration request to Judge Lamberth today, urging him again to dismiss the shareholder-plaintiffs’ implied covenant claims.”

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

Peter Chapman writes, “The Rop Plaintiffs delivered a copy of Treasury’s brief filed in the Eighth Circuit in Bhatti v. FHFA to Judge Maloney late last week. The Rop Plaintiffs point Judge Maloney to statements by Treasury in its brief that are at odds with FHFA’s contention that it is a constitutionally structured agency.”

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

Peter Chapman writes, “FHFA delivered its motion to dismiss Wazee’s complaint to Judge Alejandro in Philadelphia yesterday evening.”

New filing in Read More

October 2018

Wednesday October 31 2018

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

Peter Chapman writes, “FHFA, Fannie and Freddie aren’t keen about Mr. Angel’s request to file a sur-reply.”

Bloomberg Intelligence: GSE Capital Requirements

The M Report: The American Dream Depends on You

Freddie Mac: Freddie Mac Reports Third Quarter 2018 Financial Results

Tuesday October 30 2018

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

Peter Chapman writes, “The parties delivered a report to Judge Lamberth today telling him that their lawyers met and conferred on Oct. 15 and have tentatively agreed that if the Court’s ruling on the motion for reconsideration doesn’t dispose of these cases, the parties will:

— complete discovery by July 15, 2019;

— exchange expert witness reports by Aug. 14, 2019;

— file any amended complaints (which probably aren’t necessary) by Aug. 14, 2019;

— complete depositions and additional discovery from experts by Nov. 13, 2019;

— complete briefing on class certification by Nov. 26, 2019;

— complete briefing on cross-motions for summary judgment by Feb. 25, 2020;

— hopefully obtain a summary judgment ruling by July 31, 2020;

— schedule a trial to commence on Oct. 19, 2020.

Fairholme, Arrowood and the Class Plaintiffs tell Judge Lamberth they believe there’s a realistic possibility of a settlement, and would be willing to pursue mediation so long as it doesn’t delay the litigation schedule.  FHFA, Fannie and Freddie tell Judge Lamberth they don’t see any reasonable prospect of a settlement.

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

Peter Chapman writes, “Judge Lamberth entered an order today blessing the extended briefing schedule.”

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

Peter Chapman writes, “The Rafter Plaintiffs, Fairholme, the Cacciapalle Plaintiffs, Messrs. Read More