FHFA: Loan Processing Flexibilities Authorized for Fannie Mae and Freddie Mac Customers
The Federal Housing Finance Agency (FHFA) today announced several loan processing flexibilities from Fannie Mae and Freddie Mac (The Enterprises) designed to help their customers. The flexibilities announced by the Enterprises include: Allowing desktop appraisals on new construction loans; Allowing flexibility on demonstrating construction has been completed (alternative to the Completion Report); Allowing flexibility for…
FHFA: More Than 4.4 Million Homeowners Helped Since Conservatorship
The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2019 Foreclosure Prevention and Refinance Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 25,930 foreclosure prevention actions in the fourth quarter of 2019, bringing to 4.407 million the number of troubled homeowners who have been helped during conservatorships. The report also shows that nearly 40 percent…
FHFA: Enterprises Authorized to Support Additional Liquidity in the Secondary Mortgage Market
Today, to help support immediate needs for liquidity in the secondary mortgage market, the Federal Housing Finance Agency (FHFA) has authorized Fannie Mae and Freddie Mac (the Enterprises) to enter into additional dollar roll transactions (dollar roll transactions provide mortgage-backed securities investors with short-term financing of their positions, providing liquidity to these investors). Eligible collateral…
HUD: Immediate Relief Provided for Homeowners Amid Nationwide Coronavirus Response
Suspends all foreclosure and evictions for the next 60 days U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson, in consultation with the Trump Administration and the Coronavirus Task Force, today authorized the Federal Housing Administration (FHA) to implement an immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next…
FHFA: Foreclosures and Evictions Suspended for Enterprise-Backed Mortgages
Today, to help borrowers who are at risk of losing their home, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprises) to suspend foreclosures and evictions for at least 60 days due to the coronavirus national emergency. The foreclosure and eviction suspension applies to homeowners with an Enterprise-backed single-family…
CFPB: Director Kraninger Statement on Joint HUD-FHFA Announcement on Foreclosure and Eviction Moratorium
Consumer Financial Protection Bureau Director Kathleen L. Kraninger made the following statement today after the U.S. Department of Housing and Urban Development and the Federal Housing Finance Agency announced a moratorium on foreclosures and evictions: “The actions taken today by HUD and FHFA are timely and an important step in providing assurance to consumers. I…
OCC: Report Shows Slight Improvement in Mortgage Performance in Fourth Quarter 2019
The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the fourth quarter of 2019. The OCC Mortgage Metrics Report, Fourth Quarter 2019 showed 96.5 percent of mortgages included in the report were current and performing at the end of the quarter,…
FHFA: CFPB and FHFA Release Additional Data from the National Survey of Mortgage Originations for Public Use
Details Borrower’s Experiences Obtaining a Mortgage The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) today released additional loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). The data provide insights into borrowers’ experiences in getting a residential mortgage. The NSMO is a component of the National Mortgage…
FDIC: FFIEC Issues 2020 Version of Guide to HMDA Reporting: Getting It Right!
Summary: The Federal Financial Institutions Examination Council (FFIEC) has issued the 2020 edition of A Guide to HMDA Reporting Getting It Right! for Home Mortgage Disclosure Act-related data collected in 2020 and reported in 2021. This compliance resource can help financial institutions better understand HMDA requirements, including the data collection and reporting provisions. Statement of Applicability to…
FHFA: Fannie Mae and Freddie Mac Announce Update on LIBOR Transition
The Federal Housing Finance Agency today announced additional steps Fannie Mae and Freddie Mac (the Enterprises) are taking as they transition from the London Interbank Offered Rate (LIBOR), the world’s most widely used interest rate benchmark: New language will be required for single-family Uniform Adjustable Rate Mortgage (ARM) instruments closed on or after June 1,…