Fannie Mae

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.

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 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 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 […]

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 […]

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, 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.

NH&RA member Enterprise Community Partner recently published a blog post on Senate Banking, Housing and Urban Affairs Committee Chairman Mike Crapo’s (R-ID) housing finance reform outline. Vice President of Policy Development Andrew Jakabovics argues that eliminating the explicit commitment to affordable housing is a step in the wrong direction and that the housing finance system […]

NH&RA joined a letter led by the National Housing Conference, the National Low Income Housing Coalition, the Capital Magnet Fund Coalition, LISC and the Opportunity Finance Network which calls on the Acting Director of the Federal Housing Finance Agency to continue making allocations to the Capital Magnet Fund (CMF) and the national Housing Trust Fund (HTF).

The Senate Committee on Banking, Housing and Urban Affairs will consider the nomination of Mark Calabria to head the Federal Housing Finance Agency (FHFA) on Feb. 14 at 10 am ET.

Senate Banking, Housing and Urban Affairs Committee Chairman Mike Crapo (R-ID) released an outline for housing finance reform legislation. In a statement Chairman Crapo said, “we must expeditiously fix our flawed housing finance system. My priorities are to establish stronger levels of taxpayer protection, preserve the 30-year fixed rate mortgage, increase competition among mortgage guarantors, and promote access to affordable housing.” 

Joseph Otting, acting director of the Federal Housing Finance Agency (FHFA), told employees that the administration would not wait on Congress to overhaul the nation’s housing finance system. According to remarks obtained by POLITICO at a Jan. 17 FHFA staff meeting Otting said, in the next two to four weeks you’re going to be able […]