1-9-19 What to Expect from Calabrias Leadership of FHFA
b"In this\\xa0interview\\xa0David Lykken talks with David Stevens and Jim Parrott about\\xa0their perspective about what can be expected from Calabria's leadership as he enters\\xa0the Federal Housing Finance Agency.\\n\\nIf you haven't\\xa0read the article written by Jim Parrott, be sure to do that, it's a great article.\\n\\nHere's how the article by Jim starts:\\n\\nThe most important question in housing policy heading into the new year has nothing to do with interest rates, housing supply, or home sales. It\\u2019s what kind of director of the Federal Housing Finance Agency (FHFA) Mark Calabria will be.\\n\\nThe article goes on to detail how Calabria could reduce Fannie and Freddie's footprint:\\n\\nIn reducing Fannie and Freddie\\u2019s 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\\u2019s 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.\\n\\nIf you're in the mortgage industry, this is one of those\\xa0must-read articles. Be sure to pass it along to any of your colleagues.\\n\\nRead more...\\nIn this\\xa0interview\\xa0David Lykken talks with David Stevens and Jim Parrott about\\xa0their perspective about what can be expected from Calabria's leadership as he enters\\xa0the Federal Housing Finance Agency.\\n\\nIf you haven't\\xa0read the article written by Jim Parrott, be sure to do that, it's a great article.\\n\\nHere's how the article by Jim starts:\\n\\nThe most important question in housing policy heading into the new year has nothing to do with interest rates, housing supply, or home sales. It\\u2019s what kind of director of the Federal Housing Finance Agency (FHFA) Mark Calabria will be.\\n\\nThe article goes on to detail how Calabria could reduce Fannie and Freddie's footprint:\\n\\nIn reducing Fannie and Freddie\\u2019s 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\\u2019s 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.\\n\\nIf you're in the mortgage industry, this is one of those\\xa0must-read articles. Be sure to pass it along to any of your colleagues.\\n\\nRead more..."