FHFA to Increase Multifamily Loan Caps for GSEs, Eliminate Exclusions
The Federal Housing Finance Agency announced today that it will raise Fannie Mae and Freddie Mac’s caps for multifamily lending to $100 billion for each GSE.
Browsing: GSEs
ABA Submits Guiding Principles for Housing Finance Reform
In a statement for the record before yesterday’s Senate Banking Committee hearing on housing finance reform, ABA recommended nine principles to guide the reform of Fannie Mae and Freddie Mac, which have been in conservatorship for over a decade.
ABA, Advocacy Groups Call for Changes to QM Framework Ahead of ‘GSE Patch’ Expiration
ABA joined a broad coalition of financial industry stakeholders, civil rights groups and other advocacy organizations in a letter to the Consumer Financial Protection Bureau today offering feedback on the expiration of the temporary “GSE patch,” which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac.
Appellate Court Finds GSE Net Worth Sweep, FHFA Structure Unconstitutional
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.
Treasury, HUD Issue Housing Finance Reform Recommendations
The Treasury Department today issued a much-anticipated blueprint for housing finance reform that includes providing explicit and paid-for federal government support for the secondary market, ending the more-than-decade-long conservatorships of Fannie Mae and Freddie Mac and promoting greater private-sector competition in housing finance.
Updating the URLA
How to manage the biggest mortgage compliance change since TRID.
FHFA Finalizes New Requirements for Validating, Approving Credit Score Models
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.
FHFA to Remove Language Preference Question From URLA
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
Qualified Opportunity?
Non-QM mortgage loans are gaining traction, but the category still carries heightened risks.
CFPB Seeks Feedback on ‘QM Patch’ Ahead of 2021 Expiration
The Consumer Financial Protection Bureau today issued an advance notice of proposed rulemaking seeking feedback on the upcoming expiration of the temporary “GSE patch,” which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac.