FHFA: Updated Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers Proposed
The Federal Housing Finance Agency (FHFA) today proposed updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers. The updated minimum financial requirements will further strengthen the Enterprises’ Seller/Servicer requirements and provide transparency and consistency of capital and liquidity required for Seller/Servicers with different business models. A key improvement from the minimum financial…
Federal Reserve: Do Minorities Pay More for Mortgages?
Read the full paper here. Abstract: We test for racial discrimination in the prices charged by mortgage lenders. We construct a unique dataset where we observe all three dimensions of a mortgage’s price: the interest rate, discount points, and fees. While we find statistically significant gaps by race and ethnicity in interest rates, these gaps…
ABA: Consumer Delinquencies Mixed in Third Quarter of 2019
Consumer credit delinquencies were mixed in the third quarter of 2019, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the 11 categories tracked by ABA…
FHFA: Nearly 4.4 Million Homeowners Helped Since Conservatorship
The Federal Housing Finance Agency (FHFA) today released its third quarter 2019 Foreclosure Prevention and Refinance Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 26,475 foreclosure prevention actions in the third quarter of 2019, bringing the total number of foreclosure prevention actions to 4,381,036 since September 2008. The report also shows that 37 percent of loan modifications…
OCC: Mortgage Performance Improves Slightly in Third 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 third quarter of 2019. The OCC Mortgage Metrics Report, Third Quarter 2019 showed 96.4 percent of mortgages included in the report were current and performing at the end of the quarter,…
FHFA: Report Released on Non-Performing Loan Sales through June 2019
The Federal Housing Finance Agency (FHFA) today released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold through June 30,2019 and reflects borrower outcomes on NPLs sold through December 31, 2018 and reported through June 30, 2019. …
FHFA: Maximum Conforming Loan Limits for 2020 Announced
Fannie Mae and Freddie Mac Baseline Limit Will Increase to $510,400 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 2020. In most of the U.S., the 2020 maximum conforming loan limit for one-unit properties will be $510,400, an…
FHFA: Enterprise Capital Rule Will Be Re-Proposed in 2020
Today, the Federal Housing Finance Agency (FHFA) announced plans to re-propose the entire regulation on capital requirements (Capital Rule) for Fannie Mae and Freddie Mac (the Enterprises) sometime in 2020. “The 2018 Capital Rule was proposed before FHFA began the process of retaining capital at the Enterprises as a first step toward ending the conservatorships….
FHFA: 2019 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2019. For the eleventh consecutive year, FHFA received an unmodified audit opinion on its FY…
FHFA: Deadline Extended for Input on Fannie Mae and Freddie Mac UMBS Pooling Practices
The Federal Housing Finance Agency (FHFA) today announced that it will extend, from Dec. 19. 2019 to Jan. 21, 2020 the deadline for interested parties to provide input on potential changes to Fannie Mae and Freddie Mac Uniform Mortgage-Backed Security (UMBS) pooling practices. FHFA announced on Nov. 4, 2019 that it was seeking input on the Enterprises’…