The Federal Housing Finance Agency said it was looking for a "responsible solution" to the issue of mortgage debt reduction.
Read More »FHFA Continues Outreach Efforts to HARP-Eligible Homeowners
The agency noted it wanted to reach out to homeowners who had other factors that could compensate for their low credit scores for a possible mortgage refinance.
Read More »All Federal Home Loan Banks Record Positive Net Income
At this year's Federal Home Loan Banks (FHLBanks) directors' conference, speaker FHFA Director Melvin L. Watt, delivered a speech regarding the past year of positive developments that occurred in these 12 banks.
Read More »Watt Announces One-Year Extensions for HAMP and HARP
Speaking at the Greenlining Institute 22nd Annual Economic Summit, Watt announced a one-year extension of the government's two affordable housing programs, which began in 2009 in response to the housing crisis. HARP was set to expire at the end of this year, while HAMP was extended last July until the end of 2016.
Read More »FHFA’s Conservatorship of GSEs Has No Clear End, Ratings Company Says
Since 2012, all GSE profits have been swept into Treasury. The GSEs each have a capital buffer of $1.8 billion, but it is required to be reduced by $600 million per year until it reaches zero by 2018. The Enterprises would require another draw on Treasury should their losses exceed their capital buffer.
Read More »Feds Update Rules for State-Run Appraisal Management Companies
Six federal financial regulatory agencies Thursday issued minimum requirements for state registration and supervision of entities that provide appraisal management services to lenders, underwriters, and other principals in the secondary mortgage market.
Read More »Stress Test Shows GSEs Would Require Another Sizable Draw on Treasury
The fact that the Enterprises remain in conservatorship of the FHFA has been a contentious topic among lawmakers and housing industry stakeholders in recent months. Fannie Mae and Freddie Mac returned to profitability in 2012, but those profits declined substantially from 2013 to 2014. Recent reports, including one from the FHFA Inspector General, have warned that the profitability of the GSEs might not continue even though the conservatorship probably will.
Read More »FHFA Numbers Reveal Slight Rise in Interest Rates Since March
The most recent FHFA index, released Tuesday, revealed that interest rates have increased slightly from February to March on several levels. The average interest rates on all mortgage loans for March jumped 3 basis points from February, from 3.77 percent to 3.8 percent.
Read More »Insurance Providers Are Currently Compliant With Enhanced PMI Eligibility Requirements
Several leading mortgage insurance providers for the industry have announced that if the enhanced Private Mortgage Insurer Eligibility Requirements (PMIERs) announced by the Federal Housing Finance Agency (FHFA) went into effect today, they would be in complete compliance.
Read More »FHFA: Home Prices Nearing Pinnacle Reached in 2007
U.S. house prices overall rose 0.7 percent on a seasonally adjusted basis from January to February, according to the agency’s monthly House Price Index report. Prices were up 5.4 percent nationwide compared to this time last year. The HPI is calculated by using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
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