News Topic: Mel Watt

Fannie Mae and Freddie Mac will be allowed to build capital buffers to protect against losses under an agreement between the Treasury Department and the Federal Housing Finance Agency announced on Thursday. ... Read full article

The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives. ... Read full article

Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security." ... Read full article

The financial services industry has cheered a proposed reduction in the corporate tax rate, but a lower rate could force Fannie Mae and Freddie Mac to write down assets, increasing the odds that the companies will need Treasury support. ... Read full article

Federal Housing Finance Agency Director Mel Watt said the agency is poised to examine alternatives to how a Fannie Mae and Freddie Mac assess creditworthiness of home buyers, including seeking public comment on the issue later this fall. ... Read full article

In a moment of rare unity, the Independent Community Bankers of America and National Association of Federally-Insured Credit Unions sent a joint letter to FHFA arguing to stop the GSEs' profit sweep. ... Read full article

Though FHFA Director Mel Watt stopped short of saying he would break with a Treasury agreement that forces all profits of the GSEs to go to the government, he emphasized that it couldn’t continue indefinitely. ... Read full article

Despite a direct request by six Democratic senators that Fannie Mae and Freddie Mac be allowed to rebuild capital, Treasury Secretary Steven Mnuchin did little to clarify the administration's thinking. ... Read full article

Mortgage-finance giants Fannie Mae and Freddie Mac could need nearly $100 billion in bailout money in the event of a new economic crisis, according to stress test results released Monday by their regulator. ... Read full article

FHFA Director Mel Watt said Fannie Mae and Freddie Mac can not use alternative credit models until other issues are resolved first. ... Read full article

Freddie Mac said it earned enough in the second quarter to send a $2 billion dividend to the U.S. Treasury, but the press release announcing the company’s financial results includes new language suggesting uncertainty as to whether the payment will be made ... Read full article

FHFA Director Mel Watt warned Thursday that to prevent a potential draw on the Treasury Department by the government-sponsored enterprises, he is willing to act unilaterally to rebuild capital at Fannie and Freddie. ... Read full article

The groups and industry trade associations want the Treasury Department and the FHFA to allow Fannie Mae and Freddie Mac to build up capital reserves. ... Read full article