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.
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.
As expected, the Federal Housing Financial Agency issued a final rule—as directed by the S. 2155 regulatory reform law—establishing new requirements for the validation and approval of credit score models by Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to make several changes to the Uniform Residential Loan Application, including the removal of a question asking applicants to indicate their preferred language
As expected, the Federal House Finance Agency today published in the Federal Register its methodology for calculating the new “PMMS+” index.
The number of home loans backed by Fannie Mae and Freddie Mac that are 60 or more days past due fell from 1.08% to 1.03% at the end of the first quarter, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.
Almost 50% of all mortgage originations sold to Fannie Mae or Freddie Mac last year came from non-depository institutions, FHFA Director Mark Calabria said today at an industry event in Washington, D.C.
In a preface to the Federal Housing Finance Agency’s annual report to Congress today, Director Mark Calabria once again urged lawmakers to strengthen the agency’s authority as they work to unwind the conservatorships of Fannie Mae and Freddie Mac.
Fannie Mae and Freddie Mac today officially launched the Uniform Mortgage-Backed Security, which will replace the current TBA-eligible MBS issued by the two GSEs.