Fannie Mae
Bipartisan Group of Senators Introduce G-Fee Legislation
Chairman David Perdue (R-GA) and Ranking Member Bob Menendez (D-NJ) of the Senate Banking subcommittee on Housing, Transportation, and Community Development Subcommittee introduced S.1463, a bill to establish a scorekeeping rule to ensure that increases in guarantee fees of Fannie Mae and Freddie Mac shall not be used to offset provisions that increase the deficit.
Trump calls Fannie, Freddie a ‘pretty urgent problem’, Calabria argues FHFA has authority to act without Congress
This American Banker article explores the remarks from President Trump at the recent National Association of Realtors event. “This is a pretty urgent problem. We’re doing well with it now… We have many geniuses looking at it and we’ll figure something out.”
At the Mortgage Bankers Association conference, Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria said “ while I’m committed to working with Congress, I’m not going to wait on Congress.”
Survey Concludes One-Third of Americans Have Trouble Finding Affordable Housing Near Their Workplace
Fannie Mae and research firm Penn Schoen Berland (PSB) released survey data that found most Americans are struggling to find affordable housing near their job, better schools, childcare and job opportunities.
AHTCC Sends Letter to FHFA Director
The Affordable Housing Tax Credit Coalition, of which NH&RA is a member, sent a letter to the Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria to welcome him to his new role and thank him for his comments during the confirmation process on promoting access to affordable housing, retaining the Government Sponsored Enterprises’ (GSE) […]
Senate Confirms Calabria as Director of FHFA
On April 4, 2019 the Senate voted 52-44 to confirm Mark Calabria as the director of the Federal Housing Finance Agency (FHFA).
FHFA Announces NHTF and CMF Payments
The Federal Housing Finance Agency (FHFA) announced the authorization of disbursements from Fannie Mae and Freddie Mac to the National Housing Trust Fund (NHTF) and Capital Magnet Fund (CMF). The NHTF will receive $244.86 million and the CMF will receive 131.84 million.
Senate Banking Committee Holds Two Hearings on Housing Finance Reform
On March 26 and 27 the full Senate Committee on Banking, Housing and Urban Affairs held hearing on Chairman Mike Crapo’s (R-ID) Housing Finance Reform Outline. At the March 26 hearing Chairman Crapo said he wants to “bring to a close the conservatorship era.” Former Acting FHFA Director Edward DeMarco stated that “the outline captures the consensus elements of prior reform proposals and serves as a solid workable foundation from which to develop legislation.” At the March 27 hearing Chairman Crapo said he “considers Housing Finance Reform to be a top priority for the Banking Committee this Congress” and that “the status quo is simply not a valid viable option.”
Fannie Mae Leadership Changes
Fannie Mae announced that it appointed Hugh Frater as Chief Executive Officer effective March 26. Fannie Mae also announced that it appointed Stergios Theologides as executive vice president, general counsel and corporate secretary effective March 28.
President Trump Signs Memo on Housing Finance Reform
President Trump signed a memorandum that directs HUD and Treasury to draft administrative and legislative options for housing finance reform to be submitted to the President for approval as soon as practicable. HUD will prepare a reform plan for the housing finance agencies it oversees, and Treasury will prepare a reform plan for Fannie Mae […]
Appleton, Calabria and Kurtz Nominations Advance in Senate
On Feb. 26, the Senate Committee on Banking, Housing and Urban Affairs approved the nominations of Seth Appleton to be Assistant Secretary of HUD’s Office of Policy Development and Research, Dr. Mark Calabria to be Director of the Federal Housing Finance Agency and Robert Kurtz to be Assistant Secretary of HUD’s Office of Public and […]
Senate Banking Votes on Calabria’s FHFA Nomination – Feb. 26
On February 26, the Senate Committee on Banking, Housing and Urban Affairs will vote on the nomination of Mark Calabria to lead the Federal Housing Finance Agency. The Committee will also consider the nominations of Seth Appleton to lead HUD’s Office of Policy Development and Research and Robert Hunter Kurtz to be the Assistant Secretary […]
Red Mortgage Capital Adds New York Lending Office
RED Mortgage Capital, a division of ORIX Real Estate Capital, LLC, has hired Sean Cullen and Ronnie Gyani to lead its multifamily affordable lending activities in the greater New York City area. Cullen and Gyani have worked together since 2010 and both bring a strong level of affordable housing finance experience to RED’s New York and East Coast operations.