Borrowers who are seriously delinquent on loans owned or guaranteed by Fannie Mae or Freddie Mac may be eligible for a one-time principal reduction to help them avoid foreclosure and stay in their homes, the Federal Housing Finance Agency announced today.
The current regulatory framework could be strengthened to give the Federal Housing Finance Agency and others greater supervisory authority over nonbank mortgage servicers, according to a report released today by the Government Accountability Office.
The Federal Housing Finance Agency will announce within the next month whether it will implement a limited principal reduction program for underwater borrowers with mortgages backed by Fannie Mae and Freddie Mac, FHFA Director Mel Watt said today.
ABA and several other housing and mortgage associations wrote to Congress yesterday urging the House and Senate Budget Committees to include a provision in the FY 2017 Budget Resolutions prohibiting the use of Fannie Mae and Freddie Mac guarantee fees as a funding offset.
The Federal Housing Finance Agency today released a progress report on its goals for Fannie Mae and Freddie Mac while the GSEs are in federal conservatorship.
Freddie Mac today reported a $2.15 billion profit for the fourth quarter of 2015, following a $475 million loss in the previous quarter.
The rate for a 30-year fixed-rate mortgage held steady at 3.65 percent this week, unchanged from the week prior, Freddie Mac said today.
More than 428,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the fourth quarter, with 21,079 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said today.
ABA in a letter last week urged the Financial Accounting Standards Board to drop its proposal to expand the disclosures of government assistance a company receives.
Fannie Mae and Freddie Mac today announced a new independent dispute resolution process for conflicts over mortgages that the housing GSEs require lenders to repurchase.