FHFA: Foreclosure and REO Eviction Moratoriums Extended
Today, to help borrowers at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until at least December 31, 2020. The foreclosure moratorium applies to…
CFPB: Analysis of 2019 HMDA Data Points Issued
Today the Consumer Financial Protection Bureau (Bureau) issued a new Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data. This data article is the second in a series and follows the first article published in June of this year. The Home Mortgage Disclosure Act (HMDA) is a data collection, reporting, and disclosure statute that was…
FHFA: Agency Extends Buying Loans in Forbearance & COVID-19 Loan Processing Flexibilities
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 September 30, 2020. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on August 31, 2020….
FHFA: $6 Billion in COVID Losses Projected at Fannie Mae and Freddie Mac
Low-Balance Refinances now Exempt; Adverse Market Refinance Fee Implementation now December 1 The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac (the Enterprises) to delay the implementation date of their Adverse Market Refinance Fee until December 1, 2020. The fee was previously scheduled to take effect September 1, 2020. FHFA is…
CFPB: Comment Period Extended on Ways to Prevent Credit Discrimintation and Build a More Inclusive Financial System
The Consumer Financial Protection Bureau (Bureau) announced today that it will provide an additional 60 days for public comment on its Request for Information (RFI) on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit…
HUD: FHA Launches Technology Module for Single Family Appraisals
New electronic appraisal delivery technology uses cloud-based platform for forward mortgage appraisal submissions The Federal Housing Administration (FHA) today announced the upcoming release of its FHA Catalyst: Electronic Appraisal Delivery module on the FHA Catalyst platform. FHA Catalyst: Electronic Appraisal Delivery will allow lenders to electronically submit, track, and manage single family property appraisals. “Transforming FHA technology is the…
CFPB: New Category of Qualified Mortgages Proposed to Encourage Innovation and Access to Affrodable Mortgage Credit
The Consumer Financial Protection Bureau (Bureau) issued today a notice of proposed rulemaking (NPRM) to create a new category of seasoned qualified mortgages (Seasoned QMs) in order to encourage innovation and help ensure access to responsible, affordable in the mortgage credit market. To be considered a Seasoned QM under the proposal, loans would have to…
FHFA: Multifamily Property Owners in Forebearance Now Required to Inform Tenants of Eviction Suspension and Protections
To increase awareness of available tenant protections, the Federal Housing Finance Agency (FHFA) announced today that multifamily property owners with mortgages backed by Fannie Mae or Freddie Mac (the Enterprises) who enter into a new or modified forbearance agreement must inform tenants in writing about tenant protections during the multifamily property owner’s forbearance and repayment…
FHFA: Temporary Policy Allowing Purchase of Qualified Loans in Forbearance Extended
August 31, 2020 is new expiration date To support homeowners and mortgage lenders, the Federal Housing Finance Agency (FHFA) approved an extension of the temporary policy that allows for the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria set by Fannie Mae and Freddie Mac (the Enterprises). The policy is extended…
HUD: Dana Wade Confirmed as New FHA Commissioner
Wade’s housing expertise includes her previous role as Acting Federal Housing Commissioner and Assistant Secretary for Housing U.S. Department of Housing and Urban Development Secretary Ben Carson today applauded the confirmation of Dana Wade to serve as the Federal Housing Administration’s (FHA) Commissioner. FHA currently insures more than 8 million single family mortgages, almost 12,000…