Tag Archives: GSEs

Fannie, Freddie Q1 Profits Drop Year on Year

Fannie Mae’s and Freddie Mac’s combined first-quarter earnings were $2.4 billion, up from the $1.5 billion they earned in the fourth quarter of 2014 but down substantially from the $9.3 billion they earned a year before, the Federal Housing Finance Agency reported today.

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Delinquent GSE Mortgages Continue to Decline

The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due or are in the foreclosure process fell 9 percent in the first quarter, following a 3 percent drop in the fourth quarter of 2014, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.

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Des Moines, Seattle FHLBs Complete Merger

The Federal Home Loan Banks of Seattle and Des Moines, Iowa, today announced that their merger is complete. The combined entity, serving nearly 1,500 financial institutions in 13 upper Midwestern and northwestern states plus Pacific island territories, remains headquartered in Des Moines.

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FHFA: HARP Refinances Surpass 3.3 Million

More than 544,000 borrowers in the first quarter refinanced their Fannie Mae or Freddie Mac mortgage loans, with about 31,600 of those happening through the Home Affordable Refinance Program, the Federal Housing Finance Agency said yesterday.

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GSEs Issue New Seller, Servicer Eligibility Requirements

At the direction of the Federal Housing Finance Agency, Fannie Mae and Freddie Mac yesterday announced new standards that mortgage institutions would have to meet in order to sell loans to or service loans on behalf of the housing GSEs. The new standards include net worth, capital and liquidity requirements both for depository institutions and for nonbanks.

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FHFA to Revisit Affordable Housing Goals for FHLBs

After hearing from Federal Home Loan Banks that uncertainty about affordable housing goals is limiting their mortgage purchases from member institutions, the Federal Housing Finance Agency will revisit the goals, FHFA Director Mel Watt said today.

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Shelby’s Sweeping Financial Reform Bill Would Advance ABA Goals

Senate Banking Committee Chairman Richard Shelby (R-Ala.) today released a draft of a sweeping financial reform bill that would provide regulatory relief for banks of all sizes, tailor the regulatory structure for systemically important banks and begin restructuring within the Federal Reserve System and at Fannie Mae and Freddie Mac.

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