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TABLE OF CONTENTS
MJARN.U-ARPYR.20210818
TRUMP ADMINISTRATION
MONETARY POLICY
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Uniform Mortgage-Backed Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHFA publishes a 2017 scorecard progress report . . . . . . . . . . . . . . . . . .
A closer look at Fannie Mae’s and Freddie Mac’s risk-sharing transactions . . . . . . . . . . . . . . . . . .29
ENTERPRISE SINGLE-FAMILY MORTGAGE CRT ACTIVITY . . . . . . . . . . . . . . . . . . . . . . . . 31
Fannie Mae and Freddie Mac have reached the “terminal level” for
their mortgage portfolios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32
FANNIE MAE’S AND FREDDIE MAC’S PORTFOLIO WIND-DOWN . . . . . . . . . . . . . . . . . . . 32 Housing prices continue to rise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33 S&P CoreLogic Case Shiller Indices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
ROBUST GDP GROWTH
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The Trump administration’s regulatory rollback continues . . . . . . . . . . . . Senate passes bipartisan bill that would revamp Dodd Frank regulations
Jack Kemp’s legacy: Qualified Opportunity Zones . . . . . . . . . . . . . . . Acting Director Mulvaney is transforming the BCFPB on many fronts
President Trump nominates Richard Clarida and Michelle Bowman to the Federal Reserve board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Beware the flattening yield curve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . THE FLATTENING YIELD CURVE . . . . . .. . . . . . . . . . . . . . . . . There’s no free lunch for central banks’ aggressive monetary policies
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Will central banks’ tightening trigger a crisis in cov-light corporate debt?
COVENANT-LITE SHARE OF OUTSTANDINGS Will central banks ban cryptocurrencies? . . . . . . . . . . THE TOP TEN CRYPTOCURRENCIES . . . . . . .
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FANNIE MAE AND FREDDIE MAC
It could be a long wait for housing finance reform ....
The buzz on FHFA’s next director . . . . . . . . . . . . . . . .
FHFA Director Watt’s “amazing journey” . . . . . . . . . . .
FHFA announces June 2019 emplementation of the new
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