HUD: New FHA Loan Limits for 2019 Announced
Loan limits to increase in more than 3,000 counties The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for 2019, with most areas in the country to experience an increase in loan limits in the coming year. These loan limits are effective for FHA case numbers assigned on or after…
FHFA: Proposed Rule Issued on Validation and Approval of Credit Score Models
The Federal Housing Finance Agency (FHFA) is seeking public comment on a proposed rule that would establish standards and criteria for the validation and approval of third-party credit score models used by Fannie Mae and Freddie Mac (the Enterprises). This proposed rule is required by Section 310 of the Economic Growth, Regulatory Relief, and Consumer…
FHFA: 2017 Report to Congress on Guarantee Fees Issued
The Federal Housing Finance Agency (FHFA) today released its annual report on single-family guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises). The Housing and Economic Recovery Act of 2008 requires FHFA to conduct an ongoing study of the guarantee fees charged by the Enterprises and to submit a report to Congress each…
FDIC: Affordable Mortgage Lending Guide Information Updated
Summary: The FDIC has updated the Affordable Mortgage Lending Guide, Part I: Federal Agencies and Government Sponsored Enterprises to reflect the most up-to-date information available about the mortgage products offered through federal housing programs, Fannie Mae and Freddie Mac. Statement of Applicability to Institutions with Less Than $1 Billion in Assets: This Financial Institution Letter…
CFPB: 2017 Fair Lending Report Promotes Fair, Equitable and Nondiscriminatory Access to Credit
Access to credit is a key to economic mobility and prosperity for consumers and small businesses alike. Our annual Fair Lending Report to Congress highlights how in 2017 we continued to focus on promoting fair, equitable, and nondiscriminatory access to credit in mortgage lending, continued fair lending supervision of servicing and small business lending, and…
FHFA: Index Shows Mortgage Rates Increased in October 2018
Nationally, interest rates on conventional purchase-money mortgages increased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.75 percent for loans closed in late October, up 13 basis points from 4.62 percent in September….
FHFA: Maximum Conforming Loan Limits for 2019 Announced
Fannie Mae and Freddie Mac Baseline Limit Will Increase to $484,350 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 2019. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an…
CFPB: Natural Disaster Assistance Is Reported on a Minority of Credit Records Among Potentially Affected Consumers
Today the Bureau of Consumer Financial Protection (Bureau) released the latest quarterly consumer credit trends report, this time focusing on the reporting of natural disasters in credit reports. This report explores how financial institutions furnish natural disaster assistance to credit reporting agencies, and summarizes trends in natural disaster reporting for consumers in the Greater Houston area…
FHFA: Final Rule Issued Amending Federal Home Loan Banks’ Affordable Housing Program Regulation
The Federal Housing Finance Agency (FHFA) has published a final rule amending its regulation for the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP). The final rule provides additional flexibility at the local level for the FHLBanks, in consultation with their Advisory Councils, to allocate their AHP funds and to design their project selection…