The Department of Housing and Urban Development and the Federal Housing Finance Agency today announced a memorandum of understanding regarding fair housing and fair lending coordination.
To help expand access to credit for borrowers with limited credit histories, the Federal Housing Finance Agency today announced that beginning next month, Fannie Mae will consider rental payment history in its underwriting decision-making process.
As more borrowers exit COVID-19 forbearance programs, the Biden administration today announced several new relief measures designed to help mortgage borrowers with loans through the Department of Housing and Urban Development, Department of Veterans Affairs and the Department of Agriculture avoid foreclosure.
In a letter to Sens. Kyrsten Sinema (D-Ariz.) and Rob Portman (R-Ohio) today, the American Bankers Association and a broad coalition of financial and housing trade groups urged them not to use Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets for government spending.
The Federal Housing Finance Agency today announced that it will eliminate a widely panned “adverse market refinance fee” of 50 basis points for no-cash-out and cash-out refinance mortgages for loan deliveries effective Aug. 1.
Following a final rule issued by the Consumer Financial Protection yesterday establishing a temporary COVID-19 emergency pre-foreclosure period under Regulation X that prohibits servicers from making the first notice or filing required to initiate foreclosure until Dec. 31, the Federal Housing Finance Agency today said that Fannie Mae and Freddie Mac servicers may not make a first notice or filing for foreclosure that would be prohibited by the CFPB rule before it takes effect.
The Supreme Court ruled today that the structure of the Federal Housing Finance Agency is unconstitutional, given that it has a sole director who may only be removed by the president for cause, not at will.
In the Federal Housing Finance Agency’s annual report to Congress, the agency requested the authority to examine third-party service providers to identify practices that could pose safety and soundness risks to Fannie Mae and Freddie Mac.
Freddie Mac today announced plans to cap its purchase of single-family mortgages secured by investment properties and second homes to comply with recent changes to the stock purchase agreement governing the GSE’s federal conservatorship.
Fannie Mae and Freddie Mac have sold 130,808 nonperforming loans as of Dec. 31, 2020, with a total unpaid balance of $24.5 billion, according to the Non-Performing Loan Sales Report released today by the Federal Housing Finance Agency.