Fannie Mae and Freddie Mac have sold 117,466 nonperforming loans as of June 30, 2019, with a total unpaid balance of $22.2 billion, according to the Non-Performing Loan Sales report released today by the Federal Housing Finance Agency.
Federal Housing Finance Agency Director Mark Calabria today signaled his intention to re-propose regulations for capital requirements for Fannie Mae and Freddie Mac.
Since the Federal Housing Finance Agency launched a credit risk transfer program for GSEs Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $102 billion in credit risk to private investors, amounting to about 3.3% of $3.1 trillion in unpaid principal balance, the FHFA said today. For the first half of 2019, the GSEs transferred about $10.5 billion worth of credit risk. Transfers included debt issuances, insurance and reinsurance transactions, senior-subordinate securitizations and several kinds of lender-collateralized recourse transactions.
The Federal Housing Finance Agency today released its updated strategic plan for Fannie Mae and Freddie Mac, outlining three broad objectives for the GSEs including preparing for their eventual exit from conservatorship.
FHFA Director Mark Calabria said he expects Fannie Mae and Freddie Mac to retain earnings for up to 18 months as the GSEs work to rebuild capital, according to reports Thursday.
The Federal Home Loan Banks awarded approximately $458 million in affordable housing program funds in 2018, a 15% increase from the year prior, according to a report released today by the Federal Housing Finance Agency.
Fannie Mae and Freddie Mac will retain a total of $45 billion in earnings under a new agreement reached with the Treasury Department and the Federal Housing Finance Agency.
With the future of the London Interbank Offered Rate uncertain beyond 2021, the Federal Housing Finance Agency today directed the Federal Home Loan Banks to begin planning to phase out Libor-based transactions.
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.