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RMBS Market: Government Guaranteed Committee

Establishes policy and advocacy positions on matters related to the intersection of private capital and the GSEs, Ginnie Mae, FHA, and other Governmental entities

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Overview

  • Establishes policy and advocacy positions on matters related to the intersection of private capital and the GSEs, Ginnie Mae, FHA, and other Governmental entities.
  • Oversees all task forces and working groups related to our interaction with and advocacy on Governmental entities and their intersection with the private capital markets.
  • Seeks to advise and coordinate with the Private RMBS Committee.

Top Priorities

Resources

In August of 2022, Fannie Mae proposed a methodology to score their single-family MBS pools using Social data and metrics. In October 2022, both Fannie Mae and Freddie Mac announced that they would align their disclosure practices around the Social Index Score. In response to the GSEs request for comments, SFA sent a letter to both GSEs on January 5, 2023 SFA investor feedback on the Social Index, commending the GSEs for working on enhanced Social disclosures, while also providing the GSEs with the additional type of transparent, granular reporting metrics that provide the bulk of the utility that they rely on to make investing decisions. More work is still needed to provide investors the needed disclosure for ESG Social investing, and SFA is engaging with issuers and investors to identify what those metrics are while, critically, ensuring that the privacy of mortgage borrowers is maintained.
The Structured Finance Industry Group (“SFIG”) appreciates the opportunity to comment on the Federal Housing Finance Agency’s (“FHFA”) Proposed Rule on Enterprise Capital Requirements(the “Proposed Rule”).
On behalf of the Structured Finance Industry Group (SFIG), we write in support of The Fixing Housing Access Act of 2018. We appreciate your leadership on this important policy issue. SFIG represents over 350 members from all sectors of the securitization market, including investors, issuers, financial intermediaries, accounting, law, technology firms, rating agencies, servicers, andContinue reading “RMBS Market: Government Guaranteed Committee”
I am writing on behalf of the Structured Finance Industry Group (SFIG)1 in response to the Ginnie Mae Request for Input on Pooling and Eligibility Changes for the Ginnie II Multi-Issuer Program (RFI). We appreciate Ginnie Mae’s leadership on this issue, and welcome the opportunity to comment on these proposed changes.
I am writing on behalf of the Structured Finance Industry Group (SFIG)1 in response to the Federal Housing Administration’s (FHA) Opportunity to Review and Provide Feedback on Currently Posted Drafts pursuant to FHA #19-18, posted on May 9, 2019. We appreciate FHA’s leadership on this issue and welcome the opportunity to comment on the proposedContinue reading “RMBS Market: Government Guaranteed Committee”
Chairman Crapo, Ranking Member Brown, members of this committee, my name is Michael Bright and I represent the Structured Finance Industry Group, or “SFIG.” On behalf of SFIG and its thousands of members in the securitization industry, I very much appreciate the opportunity to speak to you today.
September 6th, 2018 marked the 10th anniversary of the two Government Sponsored Enterprises (GSEs)—Fannie Mae and Freddie Mac—being placed into conservatorship by the Federal Housing Finance Agency (FHFA). At that time, it would have been difficult to predict that ten years later, the GSEs would remain under government control.
The Structured Finance Industry Group (“SFIG”)1 appreciates the opportunity to provide comments on the Ability to Repay/Qualified Mortgage Rule (“ATR/QM”) from the Consumer Financial Protection Bureau (“CFPB”) that was published in the Federal Register on June 1, 2017.