FHFA: Conforming Loan Limits Announced for 2021
Fannie Mae and Freddie Mac Baseline Limit Will Increase to $548,250 The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021. In most of the U.S., the 2021 maximum conforming loan limit (CLL) for one-unit properties will be $548,250,…
FHFA: Final Capital Rule Announced for Fannie Mae and Freddie Mac
Today, the Federal Housing Finance Agency (FHFA) sent to the Federal Register for publication a final rule that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac (the Enterprises). The final rule makes certain changes to the proposed rule published in the Federal Register on June 30, 2020 (proposed rule).[1] That proposed rule…
FHFA: 2021 Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac Announced
50 Percent of Cap Must be Mission-driven, Affordable Housing and Manufactured Housing Community Tenant Protections Added The Federal Housing Finance Agency (FHFA) today announced that the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise. The cap structure allows the Enterprises to offer a…
FHFA: FY 2020 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2020. For the twelfth consecutive year, FHFA received an unmodified audit opinion on its…
FHFA: Validation of Classic FICO for Use by Fannie Mae and Freddie Mac Announced
The Federal Housing Finance Agency (FHFA) today announced the validation and approval of the Classic FICO credit score model for use by Fannie Mae and Freddie Mac (the Enterprises). The validation and approval of Classic FICO by the Enterprises allows them to continue supporting the mortgage market while assessing more modern credit score models that…
FHFA: Strategic Plan for FY 2021-2024 Finalized
The Federal Housing Finance Agency (FHFA) today issued the FHFA Strategic Plan: Fiscal Years 2021-2024. The Strategic Plan establishes new goals needed for FHFA to fulfill its statutory duties, which include responsibly ending the conservatorships of Fannie Mae and Freddie Mac (the Enterprises). FHFA carefully reviewed all comments submitted on the Plan. The Agency fulfilled…
FHFA: Rule for New Enterprise Products and Activities Proposed
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comments on a notice of proposed rulemaking that requires Fannie Mae and Freddie Mac (the Enterprises) to provide advance notice to FHFA of new activities and obtain prior approval before launching new products. Additionally, the proposed rule establishes revised criteria for determining whether a new…
FHFA: COVID-Related Loan Flexibilities Further Extended
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until November 30, 2020. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on October 31, 2020. Extended flexibilities include: Alternative appraisals…
FHFA: Buying Loans in Forbearance and COVID-Related Loan Processing Flexibilities Further Extended
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend buying qualified loans in forbearance and several loan origination flexibilities until October 31, 2020. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on September 30,…
FHFA: Second Quarter Foreclosure Prevention and Refinance Report Released for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) today released its second quarter 2020 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 252,014 foreclosure prevention actions in the second quarter of 2020, bringing to 4.68 million the number of troubled homeowners who have been helped during conservatorships. Of…