FHFA: 2019 Multifamily Lending Caps Announced for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) today announced that the 2019 multifamily lending caps for Fannie Mae and Freddie Mac (the Enterprises) will be $35 billion for each Enterprise, unchanged from the 2018 caps. The caps are based on FHFA’s projections of the overall size of the 2019 multifamily originations market, which FHFA expects to…
BCFP & FHFA: National Survey of Mortgage Originations Dataset Released for Public Use
The Bureau of Consumer Financial Protection (BCFP) and the Federal Housing Finance Agency (FHFA) today released for public use a new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO) that provides insights into borrowers’ experiences in getting a residential mortgage. The NSMO is a component of the National Mortgage Database (NMDB®), the…
FHFA: Proposed Rule Issued on Federal Home Loan Bank Housing Goals
The Federal Housing Finance Agency (FHFA) is seeking comments on proposed amendments to the existing regulation for the Federal Home Loan Bank (FHLBank) Housing Goals. The proposed rule would: Set a single prospective mortgage purchase housing goal as a share of each FHLBank’s total Acquired Member Asset (AMA) purchases; Set a new small member participation…
FHFA: Indices Show Little Movement in Mortgage Rates in September 2018
Nationally, interest rates on conventional purchase-money mortgages were nearly flat from August to September, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.62 percent for loans closed in late September, down 1 basis point from 4.63 percent in August….
ABA: Report Shows Credit Card Market Expanded in Second Quarter 2018
Credit card use picked up in the second quarter of 2018, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Compared to a year ago, super-prime accounts increased 9.2 percent and prime accounts rose 6.6 percent, both record highs. Meanwhile, subprime purchase volumes expanded at a much slower pace (+3.0 percent) on…
HUD: FHA Announces Streamlined Claim Payment Requirements in Home Equity Conversion Mortgage Program
Action intended to speed reverse mortgage claim payments The Federal Housing Administration (FHA) today announced revised requirements for Home Equity Conversion Mortgage (HECM) servicers when they assign FHA-insured reverse mortgages to the agency for claim payment. Effective immediately, FHA-approved HECM servicers can use alternative supporting documentation in lieu of previously required materials that, in many…