The House today voted 371-54 to approve a long-term highway funding bill. Just prior to passage, the House overwhelmingly approved measures that would remove controversial funding methods from the bill.
The Federal Housing Finance Agency in its Annual Housing Report today said that Freddie Mac failed to meet its affordable housing goals for low and very-low income buyers purchasing single-family homes in 2014.
Fannie Mae today announced a series of changes aimed at making its automated underwriting more efficient and accurate and better enabling lenders to serve nontraditional borrowers. The changes are scheduled to take effect sometime in 2016. Among other things, Fannie will require lenders to use trended credit data, to be provided by Equifax and TransUnion,
Fannie Mae and Freddie Mac yesterday issued letters to the mortgage lenders they work with explaining their posture toward compliance with the TILA-RESPA integrated disclosures, which went into effect for new mortgage applications on Saturday.
Fannie Mae’s and Freddie Mac’s combined second-quarter income rose to $8.8 billion from $2.4 billion in the first quarter, the Federal Housing Finance Agency reported today. The increase was attributed mainly to interest income and gains on derivates, the agency said, adding that the GSEs also saw a $2.2 billion decrease in loan loss reserves
The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due or are in the foreclosure process fell 6 percent in the second quarter of 2015, following a 9 percent drop in the first quarter, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.
The Federal Housing Finance Agency yesterday issued an update on the common securitization platform it is developing to issue the Single Security, a mortgage-backed security to be issued by both Fannie Mae and Freddie Mac.
Fannie Mae today announced a new mortgage product called HomeReady, which it said is intended to expand access to affordable home loans for low- and moderate-income families.
The Federal Housing Administration today announced that it will finance single-family home loans for energy-efficiency retrofitting, provided those loans preserve payment priority for first-lien mortgage holders.
The Federal Housing Finance Agency today finalized Fannie Mae and Freddie Mac’s 2015-2017 affordable housing goals.