The Federal Housing Finance Agency today proposed to amend its regulation restricting Fannie Mae, Freddie Mac and the Federal Home Loan Banks from purchasing, investing in, accepting as collateral, or otherwise dealing in mortgages on properties encumbered by certain types of private transfer fee covenants, or PTFCs, and in related securities, subject to certain exceptions. The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for resale restriction programs in FHFA’s Duty to Serve Underserved Markets Regulation.
Mortgage rates slip
The rate for a 30-year fixed-rate mortgage was 6.81% this week. The rate for a 15-year fixed-rate mortgage was 5.94%.