HUD: FHA Strengthens Mortgage Relief Options to Help Homeowners Impacted by Major Disasters
When disasters strike, homeowners can fall behind in their mortgage payments as they struggle to recover from a major disaster. To help homeowners impacted by major disasters, the Federal Housing Administration (FHA) today announced it is expanding its foreclosure prevention options to allow borrowers in Presidentially Declared Major Disaster Areas (PDMDAs) with delinquent FHA-insured mortgages…
FHFA: Results Announced for Fannie Mae and Freddie Mac Dodd-Frank Stress Tests
The Federal Housing Finance Agency (FHFA) today released a report providing the results of the annual stress tests Fannie 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 in assets…
HUD: Agency Announces Efforts to Reduce Risk from Cash-Out Refinance Lending
FHA and Ginnie Mae seek to preserve homeowner equity and, boost investor confidence The U.S. Department of Housing and Urban Development (HUD) today announced joint policy actions designed to reduce risk associated with cash-out refinance lending. The changes preserve homeowners’ ability to convert home equity to cash via a government-sponsored mortgage but also improves the…
CFPB: Advanced Notice of Proposed Rulemaking on Qualified Mortgages Released
The Consumer Financial Protection Bureau (Bureau) today issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information relating to the expiration of the temporary qualified mortgage provision applicable to certain mortgage loans eligible for purchase or guarantee by the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, in the Bureau’s Ability to Repay/Qualified Mortgage…
CFPB: Comment Period for ANPR Extended on HMDA Data Points
The Consumer Financial Protection Bureau (Bureau) announced today that it is extending the comment period on its Advance Notice of Proposed Rulemaking (ANPR) relating to the Home Mortgage Disclosure Act (HMDA). The extension will give interested parties an opportunity to review the Bureau’s annual overview of residential mortgage lending based on the HMDA data financial…
OCC: Improvement in Mortgage Performance Reported for First 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 first quarter of 2019. The OCC Mortgage Metrics Report, First Quarter 2019 showed 96.2 percent of mortgages included in the report were current and performing at the end of the quarter,…
FHFA: More Than 4.3 Million Homeowners Helped Since Conservatorships
The Federal Housing Finance Agency (FHFA) today released its first quarter 2019 Foreclosure Prevention Report,which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 38,968 foreclosure prevention actions in the first quarter of 2019, bringing the total number of foreclosure prevention actions to 4,322,804 since September 2008. The report also shows that 38 percent of loan modifications completed in…
FHFA: Report on Non-Performing Loan Sales Released
The Federal Housing Finance Agency (FHFA) today released its report providing information about 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 December 31, 2018, and reflects borrower outcomes as of December 31, 2018 on NPLs sold through June 30,…
FHFA: Index Shows Mortgage Rates Decreased on April 2019
FHFA has determined that due to dwindling participation, the Monthly Interest Rate Survey will be discontinued. This is the final monthly release. Nationally, interest rates on conventional purchase-money mortgages decreased from March to April, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes…
FHFA: Fannie Mae and Freddie Mac Total Refinance Volume Increases in March 2019 as Interest Rates Falls
The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac (the Enterprises) completed 234,716 refinances in the first quarter of 2019. FHFA’s first quarter 2019 Refinance Report also shows that 901 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP refinances to 3,495,296 since inception of the program…