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Nonbank Mortgage Servicers: Proposing a Better Path to Reduce Their Risk to Financial Stability

The Stoop (NYU Furman Center)

Finally, I will present a list of various pragmatic actions from which policymakers can select several they view as most well-suited for implementation. This includes imposing higher capital and liquidity requirements, as well as implementing resolution planning 12 and other requirements.

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The GSE Public-Private Hybrid Model Flunks Again: This Time It’s the Federal Home Loan Bank System (Part 1)

The Stoop (NYU Furman Center)

The GSEs were authorized by congressional legislation to perform a very specific set of activities, primarily focused on providing loans to consumers or businesses for a designated purpose, and mostly related to real estate and housing. the legislation establishing them). mortgage originations. mortgage originations.

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The GSE Public-Private Hybrid Model Flunks Again: This Time It’s the Federal Home Loan Bank System (Part 2)

The Stoop (NYU Furman Center)

In response to that growing criticism plus how much has changed in markets, legislation, and regulation during the 90-plus years of the FHLBanks’ existence, its regulator – the Federal Housing Finance Agency (FHFA) – announced in 2022 that it would undertake a review of the entire System. billion for fiscal 2024.

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State of the Nation - a UK Perspective on Covid-19

Disaster Planning and Emergency Management

Since 2008, pandemics have been top of the list of 96 threats and hazards in the UK National Risk Register of Civil Emergencies in all editions. Plans were made in the UK in 2006, 2008, 2011 and 2014. This provision was not implemented and the result appears to have been thousands of avoidable deaths.

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The White House’s Focus on Closing Costs: Long Overdue and Worth the Fight (Part 2)

The Stoop (NYU Furman Center)

Rather, the root cause has been the long-running blocking of reforms to reinstate price competition in housing and mortgage markets, which contrasts with other industries where such reforms have instead been successfully implemented in past decades. The FHFA, from its founding in 2008 to 2021, was an independent regulator.

Advocacy 101
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Current GSE Guarantee Fees Are Too Low to Be Consistent with Regulatory Capital: Does This Mean a Large Increase Is Coming?

The Stoop (NYU Furman Center)

In the years immediately following conservatorship (which began in September 2008), the FHFA increasingly took over setting the average G-fee. Instead, despite the adoption of the new and much higher official regulatory capital requirement in 2020, the agency just delayed the implementation of the higher capital level for two years.

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The GSE Conservatorships: Fifteen Years Old, With No End in Sight

The Stoop (NYU Furman Center)

Under the pressure of the financial crisis, in mid-2008, the market began to lose confidence in the implied guarantee given its informal and unwritten nature. 7] Because Congress had set up the GSEs through legislation, the Obama administration believed it was up to Congress to develop revisions to that legislation to eliminate these defects.