Mel Watt nomination means ‘status quo’ for the mortgage industry

Face time with a CEO of any organization is a rare commodity–even if, in this case, he is just down the hallway. So I looked forward to sitting down with Dave Stevens, CMB, for my first stab at Dave’s Desk (in the wake of longtime Mortgage Banking magazine editor Janet Reilley Hewitt’s retirement).

So how could a major bill described by the president and both parties’ leaders as critical to the well-being of the nation’s — and the world’s — economy go down to defeat? There are no easy answers.

Congressman Watt’s nomination also provides our country with an opportunity to debate one of the most important things we can do to improve our economy: housing finance reform. Time to modernize.

Hensarling, a Texas Republican who has served as chair of the House Financial Services Committee since 2013, is not seeking re-election, meaning he could be polishing his resume at the same time Watt’s term ends. Hensarling has tried for years to jettison the government’s role in the mortgage market.

Calabria is up for a five-year term in the FHFA leadership role that Obama appointee Mel Watt held until. highly critical of this status quo and during his time at Cato called for shrinking the.

RMBS issuance soars past estimations A month-over-month decline to a new 2-year low in agency issuance was led by Fannie Mae, even though Ginnie Mae’s securitizations fell to a three-year low. Between Fannie, Freddie Mac and government-owned Ginnie, issuance of fixed-rate mortgage-backed securities worked out to $83.288 billion in March.

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Federal Housing Finance Agency (FHFA) Director Mel Watt had three messages for the U.S. Senate Committee. The agency knows better than anyone, he said, that the status quo is not sustainable and.

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