FHFA: Fannie Mae and Freddie Mac to Conclude Single-Family Rental Pilot Programs
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will conclude their single-family rental pilot programs and then terminate their participation in the single-family rental market except through their previously existing investor programs – Fannie Mae’s Multiple Financed Properties and Freddie Mac’s Investment Property Mortgages. In the last…
HUD: Department Files Housing Discrimination Complaint Against Facebook
Secretary-initiated complaint alleges platform allows advertisers to discriminate WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced today a formal complaint against Facebook for violating the Fair Housing Act by allowing landlords and home sellers to use its advertising platform to engage in housing discrimination. HUD claims Facebook enables advertisers to control…
HUD: FHA Announces Updated Policy to Assist Homeowners Affected by 2017 Natural Disasters in Puerto Rico and the U.S. Virgin Islands
FHA appeals to struggling borrowers to contact their mortgage servicers immediately WASHINGTON – To help struggling borrowers in Puerto Rico and the U.S. Virgin Islands impacted by Hurricanes Irma and Maria, the Federal Housing Administration (FHA) today announced it is updating its menu of foreclosure prevention options to allow borrowers with delinquent FHA-insured mortgages easier…
FHFA: Fannie Mae and Freddie Mac Refinance Volume Down in Second Quarter 2018
The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 299,466 refinances in the second quarter of 2018, compared with 356,002 in the first quarter. FHFA’s second quarter Refinance Report also shows that 2,973 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP…
HUD: Department Seeks to Streamline and Enhance “Affirmatively Furthering Fair Housing” Rule
Notice solicits public’s comments on ways to improve fair housing choice WASHINGTON – The U.S. Housing and Urban Development (HUD) today published a notice inviting public comment on amendments to its Affirmatively Furthering Fair Housing (AFFH) regulations. HUD’s goal in pursuing new rulemaking is to offer more helpful guidance to states and local communities to…
Federal Reserve: FEDS Notes | Are Income and Credit Scores Highly Correlated?
Are Income and Credit Scores Highly Correlated? Rachael Beer, Felicia Ionescu, and Geng Li1 1. Introduction Credit scores, a numerical indicator constructed to predict borrowers’ credit risk, represent a crucial element of a person’s financial life and are used extensively in loan underwriting and pricing. On average, consumers with higher credit scores tend to have…
CFPB: Bureau Collaborating with Regulators Around the World to Create Global Financial Innovation Network
The Bureau of Consumer Financial Protection (BCFP), working in collaboration with 11 financial regulators and related organizations, is announcing an initiative to create the Global Financial Innovation Network (GFIN). The network will seek to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to…