FHFA: Report Published on the Performance of Fannie Mae’s and Freddie Mac’s Single-Family Credit Risk Transfers
Report finds the Enterprises’ CRT net cost was $15 billion from July 2013 through February 2021 The Federal Housing Finance Agency (FHFA) today published a report on the performance of Fannie Mae’s and Freddie Mac’s (the Enterprises’) single-family credit risk transfers (CRT). The report focuses on securities issuance and insurance/reinsurance credit risk sharing vehicles, which…
FHFA: RFI Issued on Short-Term Rental Units in Condominium, Cooperative, and Planned Unit Development Projects
The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) on Fannie Mae and Freddie Mac’s (the Enterprises) eligibility requirements for mortgages in condominium (condo), cooperative (co-op), and planned unit development (PUD) projects where a large portion of units are offered for short-term rental (30 days or less) or are used primarily…
FHFA: Final Rule Published on Enterprise Resolution Plans
The Federal Housing Finance Agency (FHFA) today published a final rule that requires Fannie Mae and Freddie Mac (the Enterprises) to develop credible resolution plans, also known as “living wills.” These resolution plans would facilitate a rapid and orderly resolution of the Enterprises should FHFA be appointed their receiver per the Housing and Economic Recovery Act of…
FHFA: New Refinance Option Announced for Low-Income Families with Enterprise-Backed Mortgages
The Federal Housing Finance Agency (FHFA) announced today Fannie Mae and Freddie Mac (the Enterprises) will implement a new refinance option for low-income borrowers with Enterprise-backed single-family mortgages. Eligible borrowers will benefit from a reduced interest rate and lower monthly payment. FHFA estimates that borrowers who take advantage of the new refinance option could save…
FHFA: House Price Index Up 0.9 Percent in February 2021; Up 12.2 Percent from Last Year
House prices rose nationwide in February, up 0.9 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 12.2 percent from February 2020 to February 2021. The previously reported 1.0 percent price change for January 2021 remained unchanged. For the nine census divisions, seasonally adjusted monthly…
FHFA: Extension of COVID-19 Related Loan Flexibilities Announced
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend some temporary loan origination flexibilities until May 31, 2021. All temporary flexibilities were originally set to expire on April 30, 2021. Alternative appraisals on purchase and rate-term refinance loans are among the flexibilities that will now be…
FHFA: House Price Index Up 1.0 Percent in January; Up 12.0 Percent from Last Year
House prices rose nationwide in January, up 1.0 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 12.0 percent from January 2020 to January 2021. The previously reported 1.1 percent price change for December 2020 was revised upward to 1.2 percent. For the nine census divisions, seasonally…
FHFA: 4th Quarter 2020 Foreclosure Prevention and Refinance Report Released
More than 5.5 million homeowners helped since conservatorship The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2020 Foreclosure Prevention and Refinance Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 362,912 foreclosure prevention actions in the fourth quarter of 2020, bringing the total number of homeowners who have been…
FHFA: COVID-Related Loan Flexibilities Further Extended Until April 30, 2021
Some flexibilities expected to be retired on April 30, 2021 The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend temporary loan origination flexibilities until April 30, 2021. The temporary flexibilities are designed to ensure continued support for borrowers during the COVID-19 pandemic. All temporary flexibilities were…
FHFA: COVID-19 Multifamily Forbearance Extended Through June 30, 2021
Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through June 30, 2021, subject to the continued tenant protections FHFA has imposed during the pandemic. The programs were set to expire March 31, 2021. “COVID-19 continues to…