FHFA: U.S. House Prices Rise 1.6 Percent in Second Quarter 2017
Washington, D.C. – U.S. house prices rose 1.6 percent in the second quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.6 percent from the second quarter of 2016 to the second quarter of 2017. FHFA’s seasonally adjusted monthly index for June was up 0.1 percent…
CFPB: What you Need to Know about the New FFIEC HMDA Examiner Transaction Testing Guidelines
Today, the Federal Financial Institutions Examination Council (FFIEC) members announced new FFIEC Home Mortgage Disclosure Act (HMDA) Examiner Transaction Testing Guidelines (Guidelines) for all financial institutions that report HMDA data. The Guidelines will apply to the examination of HMDA data collected beginning in 2018 and reported beginning in 2019. The Guidelines will help ensure accurate…
FHFA: Modifications Announced to High LTV Streamlined Refinance Program and Extension of HARP through December 2018
The Federal Housing Finance Agency (FHFA) today announced modifications to the streamlined refinance program for borrowers with high loan-to-value (LTV) ratios. On August 25, 2016, FHFA announced that Fannie Mae and Freddie Mac (the Enterprises) would implement a High LTV Streamlined Refinance program to provide much-needed liquidity for borrowers who are current on their mortgage…
Federal Reserve: The Effect of Interest Rates on Home Buying
The Effect of Interest Rates on Home Buying: Evidence from a Discontinuity in Mortgage Insurance Premiums (PDF) Neil Bhutta and Daniel Ringo We study the effect of interest rates on the housing market by taking advantage of a sudden and unexpected price change in a large government mortgage program. The Federal Housing Administration (FHA) insures…
CFPB: Too Many Student Loan Borrowers Struggling, Not Enough Benefitting from Affordable Repayment Options
For five years, we’ve heard from borrowers like you about the problems you encounter when repaying student debt, particularly when you run into trouble and need help finding a way to make ends meet. Today, we released a new report showing how student loan repayment has changed over the last 15 years. In our report,…
Federal Reserve: Total Household Debt Increases, Driven by Mortgage, Auto and Credit Card Debt
Credit Card Delinquency Flows Step Up Notably Over Past Year, While Delinquency Flows for Other Non-Housing Debt Worsen Modestly NEW YORK – The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit, which reported that total household debt increased by $115 billion (0.9%) to $12.84 trillion in the second…
HUD: “Worst Case Housing Needs” Increased in 2015
8.3 million households paid more than half their income for rent or lived in substandard housing WASHINGTON – The number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015, according to a new report released today by the U.S….
FHFA: Deputy Director of Division of Federal Home Loan Bank Regulation Announced
Washington, D.C. – Federal Housing Finance Agency (FHFA) Director Melvin L. Watt today announced the appointment of Andre D. Galeano to the position of Deputy Director of the Division of Federal Home Loan Bank Regulation. Galeano will oversee the regulation and supervision of the 11 Federal Home Loan Banks (FHLBanks). Galeano succeeds Fred Graham, who announced…
FHFA: Results Announced of Fannie Mae and Freddie Mac Stress Tests
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released a report providing the results of the annual stress testsFannie Mae and Freddie Mac (the Enterprises) are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Dodd-Frank Act requires certain financial institutions with more than $10 billion…