Housing GSEs Fannie Mae and Freddie Mac, along with the Federal Housing Finance Agency, today launched Mortgage Translations, an online clearinghouse of more than 220 mortgage resources translated into Spanish.
As Fannie Mae and Freddie Mac continue moving toward a single security, the Federal Housing Finance Agency today issued a proposed rule directing the GSEs to harmonize their programs, policies and practices that affect the prepayment rates of to-be-announced-eligible mortgage-backed securities.
Marking the 10th anniversary of the conservatorship of housing GSEs Fannie Mae and Freddie Mac, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Rep. John Delaney (D-Md.) today circulated draft legislation that would repeal the GSEs’ federal charters and direct Ginnie Mae instead to guarantee privately insured mortgage-backed securities.
Community bank strategies to change the digital mortgage game.
As part of the Federal Housing Finance Agency’s “single security initiative” to standardize the terms for mortgage pass-through certificates issued by Fannie Mae and Freddie Mac, holders of existing related GSE securities will have an opportunity to exchange them for the new standard security.
As expected, the Federal Housing Finance Agency announced today that it will not issue a decision this year about updating the credit score models required by Fannie Mae and Freddie Mac.
The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due dropped from 1.6 percent to 1.4 percent at the end of the first quarter, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.
The Consumer Financial Protection Bureau should consider whether the rules it has written since 2011 are “consistent with the law, clear, and whether they promote the financial interests of consumers in a strong, vibrant, and innovative market that offers the variety of financial products and services that consumers want and value,” the American Bankers Association said in a comment letter to the bureau today.
Fannie Mae and Freddie Mac have sold 90,921 nonperforming loans as of December 31, 2017, with a total unpaid balance of $17.4 billion, according to the fifth Non-Performing Loan Sales Report released today by the Federal Housing Finance agency.