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Tag Archives: FHFA

FHFA Extends Comment Period for Proposed FHLB Rule

The Federal Housing Finance Agency (FHFA) announced on Monday a 60-day extension for the comment period for proposed rule to revise membership requirements for Federal Home Loan Banks. FHFA gave as its reasons for extending the comment period the importance of the issues being addressed, the high interest level in the proposal, and requests from stakeholders for more time to evaluate the proposal.

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Judge Dismisses Investor Lawsuits Over GSE Profits

Judge Royce Lambert dismissed lawsuits filed in 2013 by investors at Fairholme Funds, led by Bruce Berkowitz, and Perry Capital with regards to the government's "sweeping" of GSE profits into the U.S. Treasury. The investors believed that the diversion of GSE profits created a "windfall" for the government while short changing GSE shareholders.

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HARP Refinance Share Down to 13% in July

​Refinance activity remained more or less level from June to July, though interest in the government's Home Affordable Refinance Program (HARP) continued to dwindle, the Federal Housing Finance Agency (FHFA) reported. The falloff in HARP refinancing continues even as the government works to revitalize the program.

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FHFA Price Index Up 0.1% in July

The Federal Housing Finance Agency's (FHFA) monthly House Price Index picked up 0.1 percent from June to July, coming down after a revised 0.3 percent increase in June. For the 12 months ending in July, FHFA reported house prices were up 4.4 percent. As of the latest index, the national HPI is now 6.4 percent below its peak in April 2007 and is roughly in line with its July 2005 level.

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Treasury Official Breaks Down Private-Label Challenges

Speaking at an event hosted by the Bipartisan Policy Center in Washington, D.C., Michael Stegman, counselor to the Treasury secretary for housing finance policy, explained that lenders are currently reluctant to make non-agency loans without first knowing how they'll rate on the market. At the same time, credit rating agencies don't rate mortgage pools until they see the actual loan tape.

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HSBC, FHFA Reach $550M RMBS Settlement

HSBC Holdings is the latest institution to make good with the Federal Housing Finance Agency (FHFA) after the firm's North American arm agreed Friday to pay hundreds of millions to settle claims revolving around faulty mortgage-backed securities (MBS) sold to Fannie Mae and Freddie Mac in the years before the crash.

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FHFA Gains Support for Single Security Proposal

Following the Federal Housing Finance Agency's (FHFA's) recent request for input on its proposal for a single security for Fannie Mae and Freddie Mac, the Urban Institute expressed support for the idea but concern that FHFA may be unnecessarily slow in implementing such a plan.

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FHFA Proposes Revisions to Federal Home Loan Bank Reqs

The Federal Housing Finance Agency proposed a rule to amend financial institutions' requirements for application and membership retention in one of the 12 Federal Home Loan Banks. The revision was proposed to ensure that members stay committed to housing finance and that only those eligible will have access to membership benefits and advances from one of the Federal Home Loan Banks.

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