In a letter to the Federal Housing Finance Agency yesterday, the American Bankers Association commended the agency for swiftly replacing its Monthly Interest Rate Survey with an alternative index, the PMMS+ index.
The Treasury Department today issued a much-anticipated blueprint for housing finance reform that includes providing explicit and paid-for federal government support for the secondary market, ending the more-than-decade-long conservatorships of Fannie Mae and Freddie Mac and promoting greater private-sector competition in housing finance.
The Federal Housing Administration issued a final rule today providing greater flexibility for individual condominium owners to obtain an FHA-insured mortgage.
As expected, the Federal Housing Financial Agency issued a final rule—as directed by the S. 2155 regulatory reform law—establishing new requirements for the validation and approval of credit score models by Fannie Mae and Freddie Mac.
Outstanding household debt increased by 1.4% in the second quarter of 2019, rising by $192 billion to land at $13.86 trillion, the Federal Reserve Bank of New York reported today.
The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to make several changes to the Uniform Residential Loan Application, including the removal of a question asking applicants to indicate their preferred language
The Alternative Reference Rates Committee yesterday released a white paper that shows how to use an average of the Secured Overnight Financing Rate to structure adjustable-rate mortgages in a way that’s comparable to current ARM loans.
As expected, the Federal House Finance Agency today published in the Federal Register its methodology for calculating the new “PMMS+” index.
ABA joined the Mortgage Bankers Association in a comment letter to the Department of Housing and Urban Development last week offering feedback on the Federal Housing Administration’s single-family loan sale program.
In response to advocacy by ABA, the Federal Housing Finance Agency today published new data that banks may use in place of its Monthly Interest Rate Survey, which many lenders had used to benchmark interest rates on various mortgage products.