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.
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 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.
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.
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.
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
Non-QM mortgage loans are gaining traction, but the category still carries heightened risks.
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.