Federal Housing Finance Agency Director Mel Watt today defended his agency’s decision to include a language preference question on its updated Uniform Residential Loan Application, and said that the CFPB intends to provide a safe harbor under the Equal Credit Opportunity Act.

The Federal Housing Finance Agency announced today that it will include a language preference question on its updated Universal Residential Loan Application.

The average single-family guarantee fees charged by Fannie Mae and Freddie Mac fell 2 basis points in 2016 to 57 basis points, the Federal Housing Finance Agency reported today.

ABA and several financial trade groups today again cautioned the Federal Housing Finance Agency against adding a question about borrowers’ language preference to the Universal Residential Loan Application without more in-depth consideration of the legal implications of doing so.

In a letter to the National Association of Realtors yesterday, FHFA Director Mel Watt signaled that the agency would not move to establish a short-term capital buffer for Fannie Mae and Freddie Mac when the current capital buffer put in place under the terms of the Senior Preferred Stock Purchase Agreements with the Treasury Department expires on Jan. 1, 2018.

Fannie Mae and Freddie Mac could need upwards of $100 billion in bailout funds if faced with another financial crisis, according to the results of the GSEs’ Dodd-Frank Act stress tests released yesterday.

The Federal Housing Finance Agency has reopened and extended the deadline of its request for information on how to serve borrowers with limited English proficiency to Sept. 31.

In response to the Federal Housing Finance Agency’s recent request for information on how to serve borrowers with limited English proficiency, ABA and three financial and housing trade groups yesterday urged FHFA to pursue a holistic strategy to identify LEP-specific barriers to homeownership and develop cost-effective, practical solutions.

The Federal Housing Finance Agency today proposed new metrics for assessing the performance of Fannie Mae and Freddie Mac.

The Federal Housing Finance Agency extended the comment period on its request for information on how to improve service to borrowers with limited English proficiency, after advocacy by the American Bankers Association and other financial trade associations.