Since the Federal Housing Finance Agency launched a credit risk transfer program for Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $115 billion in credit risk to private investors, amounting to about 3.3% of unpaid principal balance, the FHFA said today.
The Federal Housing Administration yesterday announced relief for FHA mortgage borrowers unable to make payments because of the coronavirus pandemic.
The Federal Housing Finance Agency today took action to grant additional flexibility to Fannie Mae and Freddie Mac to help expedite loan processing during the pandemic.
With many borrowers now taking advantage of nationwide forbearance programs as they struggle to make their monthly mortgage payments, Ginnie Mae announced today that it will take action to ensure liquidity in the mortgage-backed securities market during the coronavirus pandemic.
In communications to lenders today, Fannie Mae and Freddie Mac announced a new home retention workout option that would allow eligible borrowers who have resolved a temporary hardship and resumed their monthly mortgage payments to make payment deferrals if they cannot afford a full reinstatement or repayment plan to bring the loan current.
ABA joined several financial and mortgage industry trade associations in a letter to the Federal Reserve, HUD, FHFA, the CFPB, the U.S. Treasury Department and the White House today to provide the industry’s view on responding to the many challenges COVID-19 poses to the mortgage markets and to borrowers.
To help ensure liquidity in the secondary mortgage market, the Federal Housing Finance Agency today directed Fannie Mae and Freddie Mac to engage in additional dollar roll transactions, which would provide investors in mortgage-backed securities with short-term financing of their positions.
In its most sweeping move yet to prop up the U.S. economy amid the coronavirus pandemic and public health response, the Federal Reserve this morning unveiled several new facilities to support the flow of up to $300 billion in financing to households and businesses and committed to quantitative easing “in amounts needed” to support market functioning.
The Federal Home Loan Banks’ Mortgage Partnership Finance program today released a statement outlining temporary policies to enable servicers to assist borrowers affected by the coronavirus pandemic.
To help provide relief to homeowners who may be facing financial hardships as a result of the coronavirus pandemic, the Federal Housing Finance Agency today announced that it has directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days for enterprise-backed single-family mortgages.