Page 36 - February 2018 Disruption Report Flip Book

EQUIFAX’S “WATERSHED MOMENT”
JANUARY 2018
Montgomery is highly qualified for this important position that is critical to HUD’s mission, and there is broad consensus in the housing community that he is the right candidate to lead FHA.
...In the spirit of recent bipartisan efforts in Congress, we request that you support Montgomery’s confirmation to provide effective leadership to FHA and move his nomination to the full Senate for a vote.
The letter is signed by Atlanta Neighborhood Development Partnership, Ballard Spahr, California Housing Partnership, CohnReznick, Council of Federal Home Loan Banks, Enterprise Community Partners, Funding Incorporated, Grounded Solutions Network, Habitat for Humanity, Home Builders Institute, Housing Initiative Partnership, Housing on Merit Housing Partnership Network, Leon N. Weiner & Associates, Local Initiatives Support Corporation, Low Income Investment Fund, Make Room, Manufactured Housing Institute, MERSCORP Holdings, Minnesota Housing Finance Agency, Mortgage Bankers Association, National Affordable Housing Management Association, National Alliance to End Homelessness, National Association of Affordable Housing Lenders, National Association of Home Builders, National Association of Realtors, National Community Stabilization Trust, National Council of State Housing Agencies, National Housing Conference, National Housing & Rehabilitation Association, National Housing Trust, National Leased Housing Association, National Reverse Mortgage Lenders Association, New York Housing Conference, Preservation of Affordable Housing, Public Housing Authorities Directors Association, Rebuilding Together, Riverside Advisors, RW & Associates, SKA Marin, Specialty Mortgage Product Solutions, Stewards of Affordable Housing for the Future, Ted Chandler, AFL-CIO Housing Investment Trust, and The Realty Alliance. (HousingWire, Ben Lane, 02/26/18)
Ginnie Mae is considering partnering with FHA to offer risk-sharing MBS
Ginnie Mae is considering a risk-sharing transaction that would involve the private market taking credit risk on FHA loans in MBS guaranteed by the agency, according to acting president Michael Bright. “We’re looking at putting private capital in front of our guarantee,” said Bright at the SFIG Vegas Conference.
There are a number of ways risk sharing on Ginnie MBS could be structured, according to
Bright. One option might involve re-insurance on FHA mortgages, with greatly reduced mortgage insurance premiums for the loans with private-capital risk sharing. Also, Ginnie Mae could work with the FHLB-Chicago on risk sharing transactions. Bright added he would like to see at least one pilot transaction issued in 2018. (Inside Mortgage Finance, Brandon Ivey, 02/26/18)
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