1-9-19 What to Expect from Calabria’s Leadership of FHFA

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In this interview David Lykken talks with David Stevens and Jim Parrott about their perspective about what can be expected from Calabria's leadership as he enters the Federal Housing Finance Agency. If you haven't read the article written by Jim Parrott, be sure to do that, it's a great article. Here's how the article by Jim starts: The most important question in housing policy heading into the new year has nothing to do with interest rates, housing supply, or home sales. It’s what kind of director of the Federal Housing Finance Agency (FHFA) Mark Calabria will be. The article goes on to detail how Calabria could reduce Fannie and Freddie's footprint: In reducing Fannie and Freddie’s footprint, he would have four levers to choose from: loan limits, pricing, loan products, and the credit box. The challenge would be finding a combination that constrains Fannie and Freddie’s footprint without pushing the lost lending either over to the Federal Housing Administration, which would simply move taxpayer risk from one government pocket to another, or out of the market altogether, which would be too economically disruptive. If you're in the mortgage industry, this is one of those must-read articles. Be sure to pass it along to any of your colleagues. Read more...

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