Interagency Notice of Proposed Rulemaking Issued on Quality Control Standards for Automated Valuation Models
The Office of the Comptroller of the Currency (OCC), along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, and the Federal Housing Finance Agency (collectively, the agencies) are proposing a rule designed to implement quality control standards for…
FHFA: 2022 Report to Congress Issued
The Federal Housing Finance Agency (FHFA) today released its 2022 Report to Congress. The statutorily required report provides information about FHFA’s 2022 examinations of Fannie Mae, Freddie Mac (the Enterprises), Common Securitization Solutions (CSS), the 11 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ Office of Finance. It also describes FHFA’s actions as conservator of the…
Agencies Request Comment on Quality Control Standards for Automated Valuation Models Proposed Rule
Six federal regulatory agencies today requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in real estate valuations. In particular, the proposed rule would implement quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing real estate collateral securing…
FHFA: Agency Announces Membership in FEMA’s Mitigation Framework Leadership Group
The Federal Housing Finance Agency (FHFA) today announced its membership in the Mitigation Framework Leadership Group (MitFLG). Climate risk poses a serious threat to the U.S. housing finance system. Natural disaster events such as hurricanes, wildfires, and floods resulting from climate change present challenges for Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System…
FHFA: U.S. House Prices Rise 4.3 Percent Over the Last Year; Up 0.5 Percent from Fourth Quarter 2022
U.S. house prices rose 4.3 percent between the first quarters of 2022 and 2023, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 0.5 percent compared to the fourth quarter of 2022. FHFA’s seasonally adjusted monthly index for March was up 0.6 percent from February. “U.S. house prices generally increased modestly in the…
FHFA: Input Requested on Multifamily Tenant Protections
Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac (the Enterprises). Through their role as secondary market participants in the multifamily housing market, the Enterprises have a public mission to support the availability of safe, decent…
FHFA: Input Requested on the Enterprises’ Single-Family Pricing Framework
Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on Fannie Mae and Freddie Mac’s (the Enterprises) single-family pricing framework. The RFI solicits public feedback on the goals and policy priorities that FHFA should pursue in its oversight of the pricing framework. FHFA also seeks input on the process for setting…
FHFA: Rescission of Enterprise Upfront Fees Based on Debt-to-Income (DTI) Ratio Announced
Agency to also issue Request for Input on the Enterprise single-family pricing framework The Federal Housing Finance Agency (FHFA) today announced that it has rescinded the upfront fees based on borrowers’ DTI ratios for loans acquired by Fannie Mae and Freddie Mac (the Enterprises). FHFA announced in March it would delay implementation in order to engage with…
FHFA: House Price Index Up 0.5 Percent in February 2023; Up 4.0 Percent from Last Year
U.S. house prices rose in February, up 0.5 percent from January, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 4.0 percent from February 2022 to February 2023. The previously reported 0.2 percent price increase for January 2023 was revised downward to a 0.1 percent increase. For the nine census…
FHFA: Notice of Proposed Rulemaking on Fair Lending Oversight Issued
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comment on a proposed rule that would formalize many of the Agency’s existing practices and programs regarding fair housing and fair lending oversight of its regulated entities. Specifically, the proposed rule would codify in regulation: FHFA’s fair lending oversight requirements for Fannie Mae…