As part of the Biden administration’s effort to increase the supply of affordable housing, the Federal Housing Finance Agency today announced that effective immediately, Fannie Mae and Freddie Mac will be permitted to invest up to $850 million annually in the Low-Income Housing Tax Credit market as equity investors.
Closed-end mortgage originations increased 65.2% in 2020, driven primarily by an increase in mortgage refinance loans, according to a new review of Home Mortgage Disclosure Act data released by the Consumer Financial Protection Bureau today.
The Federal Housing Finance Agency today proposed changes to Fannie Mae and Freddie Mac’s affordable housing goals for the 2022-2024 period.
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.
The Consumer Financial Protection Bureau today released a report highlighting data collected from 16 bank and non-bank mortgage servicers between Dec. 2020 and April 2021.
The Consumer Financial Protection Bureau today issued a long-awaited interpretive rule providing clarity on how the newly enacted Juneteenth holiday affected the timing of disclosures required for mortgage transactions in process.
Customer satisfaction with mortgage servicers industrywide increased six points to 787 on a scale of 1,000 during the pandemic, according to the J.D. Power 2021 Primary Mortgage Servicer Satisfaction Study released today.
As advocated by American Bankers Association, the Conference of State Bank Supervisors today published model state regulatory prudential standards for nonbank mortgage servicers.
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.
The FDIC board today approved a proposal to simplify the deposit insurance rules for deposits of trusts and mortgage servicing accounts. Comments on the proposal will be due 60 days after publication in the Federal Register, and the American Bankers Association will file a comment letter.