Consumer Financial Protection Bureau Director Rohit Chopra this week questioned the appropriateness of having an independent nonprofit set home appraisal standards across the country, suggesting regulators may want to take a closer look at the arrangement in the future.
In a letter this week, the American Bankers Association and 18 industry and advocacy groups urged the Veteran’s Administration to expand the loss mitigation options available under the VA Home Loan Guaranty Program to help borrowers avoid foreclosure.
Fannie Mae and Freddie Mac have sold 155,034 nonperforming loans as of June 30, with a total unpaid balance of $28.7 billion, according to the Non-Performing Loan Sales Report released today by the Federal Housing Finance Agency.
The Federal Housing Finance Agency today published a final rule that requires Fannie Mae and Freddie Mac to provide advance notice to the agency of new activities and obtain prior approval before launching new products.
The goals use the new percentage-based methodology outlined in the proposed rule issued this summer.
The overall capital ratio of the Mutual Mortgage Insurance Fund increased by three percentage points during the 2022 fiscal year to end at 11.11%, which is well above the statutory minimum of 2%, according to the Federal Housing Administration’s annual report to Congress released today.
Allowing newer, nonbank entities access to the Federal Home Loan Bank system would introduce significant risk, given that they do not have comparable capital requirements, regulation or oversight to existing FHLB members, the American Bankers Association said in recent comments to the Federal Housing Finance Agency.
Racial bias has played “a limited role” in recent years in generating disparities seen in mortgage lending denials, according to a recent study published by the Federal Reserve.
The American Bankers Association supports a proposal to have Fannie Mae and Freddie Mac switch the methodology for how they measure their multifamily housing goals, the association said today in a letter to the Federal Housing Finance Agency.
The Federal Home Loan Banks awarded approximately $352.4 million in affordable housing program funds in 2021, a 10% decline from the year before, according to a report released today by the Federal Housing Finance Agency.