In a surprise move Wednesday night, Fannie Mae and Freddie Mac announced that they will impose an “adverse market refinance fee” of 50 basis points for no cash-out and cash-out refinance mortgages with delivery dates on or after Sept. 1, 2020 (for Fannie Mae loans) or with settlement dates on or after September 1 (for Freddie Mac loans).
The Federal Housing Finance Agency today proposed to hold housing goals for Fannie Mae and Freddie at their current levels for 2021, due to the coronavirus pandemic.
The Financial Stability Oversight Council announced today that it plans to undertake an activities-based review of the secondary mortgage market to assess both the risk that activities in the secondary mortgage market pose to the stability of the financial system and the efficacy of various risk mitigants.
To continue providing support to mortgage borrowers during the coronavirus pandemic, the Federal Housing Finance Agency said it would extend until Aug. 31 certain previously announced loan processing flexibilities.
The Federal Housing Finance Agency today announced that Fannie Mae and Freddie Mac will extend forbearance agreements for multifamily property owners with enterprise-backed mortgages for up to three months, for a total forbearance of up to six months.
In the Federal Housing Finance Agency’s annual report to Congress today, the agency outlined several legislative steps it is seeking to reform the nation’s housing finance system.
Testifying before the Senate Banking Committee today, FHFA Director Mark Calabria said that he has been “encouraged” by incoming data on the state of the mortgage markets, including forbearance rates, as the coronavirus pandemic persists in the U.S.
The Federal Housing Finance Agency today finalized several changes to the housing goals for the Federal Home Loan Banks.
Fannie Mae and Freddie Mac have sold 126,757 nonperforming loans as of Dec. 31, 2019, with a total unpaid balance of $23.8 billion, according to the Non-Performing Loan Sales report released today by the Federal Housing Finance Agency.
In a highly anticipated move today, the Federal Housing Finance Agency re-proposed a 2018 proposal to establish a new regulatory capital framework for Fannie Mae and Freddie Mac, charting a clear path for the GSEs to exit conservatorship.