Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago About Author: Eric C. Peck Home / Daily Dose / FHFA Announces Rule to Address Post-Conservatorship Framework 26 days ago 697 Views Previous: Forbearance Volume Continues Downward Trend Next: Home Prices Climb 11.3% YoY in March Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fannie Mae Federal Deposit Insurance Corporation (FDIC) Federal Housing Finance Agency (FHFA) Freddie Mac government-sponsored enterprises (GSEs) Housing and Economic Recovery Act of 2008 (HERA) Housing Finance System Mark Calabria FHFA Announces Rule to Address Post-Conservatorship Framework in Daily Dose, Featured, Government, Journal, News Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Fannie Mae Federal Deposit Insurance Corporation (FDIC) Federal Housing Finance Agency (FHFA) Freddie Mac government-sponsored enterprises (GSEs) Housing and Economic Recovery Act of 2008 (HERA) Housing Finance System Mark Calabria 2021-05-04 Eric C. Peck Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Federal Housing Finance Agency (FHFA) has published a final rule that requires Fannie Mae and Freddie Mac (the government-sponsored enterprises) to develop credible resolution plans, also known as “living wills.” These resolution plans would facilitate an orderly resolution of the GSEs should the FHFA be appointed their receiver per the Housing and Economic Recovery Act of 2008 (HERA).“After the capital rule, the finalization of the living will rule is one of the last major regulatory pieces needed to give effect to Congress’ intent in HERA,” said FHFA Director Mark Calabria. “Just like other large financial institutions, these plans will provide Fannie Mae, Freddie Mac and FHFA with a roadmap for preserving business continuity should they fail again. This rule helps create a stronger, more resilient housing finance system by protecting taxpayers and the mortgage market from harm if either Enterprise fails.”The final rule mirrors a rule issued by both the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) under the Dodd–Frank Wall Street Reform and Consumer Protection Act, which requires many large financial institutions to submit living wills. The Department of Treasury’s 2019 Housing Reform Plan highlighted the need for a credible resolution framework for the Enterprises, and the Financial Stability Oversight Council endorsed GSE living wills in the fall of 2020.The final rule states that the GSEs must demonstrate how core or important business lines would be maintained to ensure continued support for mortgage finance and stabilize the housing finance system, without extraordinary government support, to prevent a GSE from being placed in receivership, indemnify investors against losses, or fund the resolution of a GSE.“FHFA is developing a more robust prudential regulatory framework for the Enterprises, including capital, liquidity, and stress testing requirements, and enhanced supervision,” the final rule stated. “FHFA believes a resolution planning rule is also an important part of developing such a framework and is a key step toward the robust regulatory post-conservatorship framework FHFA is developing.”In terms of Fannie and Freddie’s government-conservatorship status and the future of the GSEs, Calabria recently commented at an industry event that the FHFA is open to input from the industry as it continues to make decisions.“FHFA is continuing to put in place key regulations that support the enterprise’s safety and soundness and ability to fulfill their mission, across the economic cycle,” Calabria said. “I encourage [mortgage bankers] to continue to engage with FHFA, provide your market insights to help us inform our work. Through all the changes and continuing challenges of 2021, I remain optimistic about what we can accomplish working together.” Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago
Everton manager Roberto Martinez insists his faith in striker Arouna Kone never wavered and that is now being rewarded. Jermain Defoe and Steven Fletcher both scored to cancel out the hosts’ 2-0 lead given to them by Gerard Deulofeu and Kone but in an increasingly open game Everton picked them off with Kone scoring twice to complete his hat-trick after a Sebastian Coates own goal and one from Romelu Lukaku had already taken the result away from them. “I am obviously concerned about the lack of understanding in certain periods of the game with the team, particularly when we got back to 2-2,” said Allardyce. “When we got the second we decided to go and attack for the third. We didn’t get it and within seven minutes we tossed the game away and allowed Everton to score three silly, sloppy goals from counter-attacks they didn’t have to work very hard for. “That lack of discipline and understanding has really concerned me on the basis we should have been satisfied with the 2-2. “At the top end we can score a goal and create chances but until we get into the habit of defending better out of possession it is worthless how many goals we score if we defend like that. “That lack of discipline and organisation as a team is obviously the biggest concern for me.” The Ivorian scored his first hat-trick in English football in the 6-2 demolition of struggling Sunderland to register a remarkable turnaround in the 31-year-old’s fortunes. After a knee injury decimated the first two years of his career at the club he was actually booed when he came off the bench in the season-opening draw at home to Watford. Press Association The reaction was totally different after his sharp finishing put the Black Cats in their place after they had clawed back a 2-0 deficit. “I had the privilege of working with him previously so I was an in an advantageous position and knew exactly what he could do,” said Martinez. “It was a really tough injury and I have seen players retiring from that. “He got fit but then had a period of getting back to match fitness but no one in the training ground ever lost faith in him. “He is a very important player for us in every aspect of his performances. “It was a phenomenal 90 minutes because it triggers an extension to his contract (which was due to expire in the summer). “He is a sensational example to any young footballer facing adversity.” Sunderland boss Sam Allardyce had considerably less belief in his players’ ability to follow a plan as they threw caution to the wind chasing back-to-back victories when he thought they should have settled for a point at 2-2.
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