The number of homes backed by Fannie Mae and Freddie Mac that are 60 or more days past due fell from 1.03% to 1% at the end of the second quarter of 2019, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.
In a move intended to level the playing field in the mortgage market, the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac not to provide volume-based discounts for guarantee fees they charge lenders.
In a joint comment letter to the Department of Housing and Urban Development last week, the American Bankers Association and three other financial and housing trade associations offered feedback on a recent proposal by the Federal Housing Administration to revise the annual certification statements for lenders.
If not reauthorized, the National Flood Insurance Program will lapse on Sept. 30. Here’s what bankers can do to get ready.
Banks want to expand safe and sound lending across the board and remain committed to enhancing the availability of credit to all qualified borrowers.
In a letter to the Federal Housing Finance Agency yesterday, the American Bankers Association commended the agency for swiftly replacing its Monthly Interest Rate Survey with an alternative index, the PMMS+ index.
ABA joined a broad coalition of financial industry stakeholders, civil rights groups and other advocacy organizations in a letter to the Consumer Financial Protection Bureau today offering feedback on the expiration of the temporary “GSE patch,” which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac.
The full Fifth Circuit Court of Appeals on Friday found that the so-called net worth sweep—in which the Federal Housing Finance Agency directs Fannie Mae and Freddie Mac’s profits to the U.S. Treasury—exceeds FHFA’s statutory authority as the GSEs’ conservator.
The Treasury Department today issued a much-anticipated blueprint for housing finance reform that includes providing explicit and paid-for federal government support for the secondary market, ending the more-than-decade-long conservatorships of Fannie Mae and Freddie Mac and promoting greater private-sector competition in housing finance.
VA mortgages are an important growth opportunity for bank real estate lenders, but the state-by-state calculation of allowable fees is a key factor in profitability.