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Tag Archives: Federal Housing Finance Agency

HARP Refinances Hold Steady in Q2

Loans refinanced through the Home Affordable Refinance Program held steady for the second quarter of 2015. According to the Federal Housing Finance Agency's Refinance Report, the total number of loans refinanced through HARP in the second quarter was nearly the same as the number recorded in first quarter.

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Fannie Mae and Freddie Mac Surpass FHFA Credit Risk Transfer Goals

Fannie Mae and Freddie Mac have surpassed the credit risk transfer goals set by their conservator in just three years. According to the FHFA's Overview of Fannie Mae and Freddie Mac Credit Risk Transfer Transactions for August 2015 released Friday, the GSEs transferred significant credit risk on loans totaling more than 667 billion dollars in unpaid principal balance.

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Refinance Volume Dropped in May, But Remains Above 2014 Levels

refinance

Refinance volume dropped lower in May 2015, but remained above levels recorded in 2014, according to the Federal Housing Finance Agency's (FHFA) May 2015 Refinance Report. The report also found that mortgage rates increased in May, with the average interest rate on a 30 year fixed-rate mortgage reaching 3.84 percent.

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FHFA Issues FHLBank Core Mission Achievement Bulletin

The Federal Housing Finance Agency (FHFA) recently issued an advisory bulletin that offers guidance on Federal Home Loan Bank's (FHLBank) core mission achievement. The bulletin also describes how FHFA will assess the banks' core mission achievement, as well as FHFA's expectations about the content of the strategic plans for banks with core mission assets below specified levels.

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FHFA Releases Office of Minority & Women Inclusion Strategic Plan

In an effort to bring diversity, inclusion, and equality to their forefront agency, the Federal Housing Finance Agency (FHFA) released their Office of Minority and Women Inclusion (OMWI) Strategic Plan for FY 2016 to FY 2018 on Tuesday. The plan is the result a strategic planning process to develop effective strategies to fulfill OMWI’s role in leading diversity and inclusion (D&I) and equal employment opportunity (EEO) efforts at the FHFA.

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CEOs of Fannie Mae and Freddie Mac to Receive Pay Raises

Fannie Mae and Freddie Mac CEOs are expected to get multimillion-dollar increases to their paycheck approved by the GSE’s regulator, the Federal Housing Finance Agency (FHFA), according to recent 8K Filings (Mayopoulos and Layton) with the U.S. Securities and Exchange Commission (SEC). On June 29, 2015, the FHFA approved changes to the compensation of Fannie Mae’s CEO Timothy J. Mayopoulos, and Freddie Mac’s CEO Donald H. Layton to address recent objectives outlined by the FHFA. Both salary adjustments will go into effect on July 1, 2015.

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FHFA Reports that Guarantee Fees Have More Than Doubled Since 2009

Under the Housing and Economic Recovery Act of 2008 (HERA) requirements, the Federal Housing Finance Agency (FHFA) is obligated to submit an annual report to Congress concerning Fannie Mae’s and Freddie Mac’s guarantee fees. According to the FHFA report, the average level of guarantee fees charged has increased since 2009, when the report began. The guarantee fees are now two-and-a-half times their previous level from 2009 to 2014.

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