Posted To: MND NewsWire
The Mortgage Bankers Association (MBA) has weighed in on the proposed framework for conservatorship and receivership operations for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks set forward by the Federal Housing Finance Agency (FHFA). In a letter to FHFA General Counsel Alfred M. Pollard, Esq ., MBA President and CEO John A. Courson and Chairman-Elect Michael D. Berman said their concerns about the framework are threefold: it is “overly theoretical;” it is unclear what the trigger would be for placing the entities into receivership, and third, the goals of any receivership are unclear. FHFA was established by the Housing and Economic Recovery Act of 2008 (HERA), replacing three other agencies with various responsibilities for regulating Fannie Mae, Freddie Mac (the Enterprises)…(read more)
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Original post by Jann Swanson
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