FHFA: 2024 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions Released
Today, the Federal Housing Finance Agency (FHFA) released the 2024 Scorecard for Fannie Mae and Freddie Mac (together, the Enterprises) and their joint venture, Common Securitization Solutions, LLC (CSS). Annually, FHFA releases a Scorecard to communicate and provide public awareness of its priorities and expectations for the Enterprises and CSS. “The annual Scorecard requires that…
OCC: Public Appraisal Subcommittee Hearing on Appraisal Bias Scheduled for February 13th
The Office of the Comptroller of the Currency (OCC) will host a public hearing of the Appraisal Subcommittee (ASC) on appraisal bias on February 13, 2024, from 10:00 a.m. to 1:00 p.m., at its headquarters, 400 7th Street SW, Washington, D.C. Acting Comptroller of the Currency Michael J. Hsu will provide opening remarks. The subcommittee panel…
FHFA: Third Quarter 2023 Foreclosure Prevention and Refinance Report Released
The Federal Housing Finance Agency (FHFA) today released its third quarter 2023 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 43,356 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,861,827 since the start of conservatorships in September…
OCC: Mortgage Performance for Third Quarter 2023 Reported
The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the third quarter of 2023. The OCC Mortgage Metrics Report, Third Quarter 2023 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, the same…
FHFA: Deemed-Issuance Ratio for Uniform Mortgage-Backed Security Announced for 2024
Ratio remains at 53 Percent Fannie Mae and 47 Percent Freddie Mac The Federal Housing Finance Agency (FHFA) today announced the deemed-issuance ratio for the 2024 calendar year in accordance with Internal Revenue Service (IRS) guidelines on the trading of the Uniform Mortgage-Backed Security (UMBS). The deemed-issuance-ratio will be used for diversification reporting on the bonds ultimately…
HUD: FHA Proposes Enhancements to Make Home Rehabilitation Program More Effective for Homebuyers and Homeowners
Proposed changes to the 203(k) Rehabilitation Mortgage Insurance Program are designed to expand FHA-insured mortgage financing for families purchasing or refinancing single family homes in need of repair or rehabilitation. Today, the Federal Housing Administration (FHA) posted proposed changes to its 203(k) Rehabilitation Mortgage Insurance Program for industry feedback. The 203(k) program is designed to help borrowers…
FHFA: Conforming Loan Limit Values for 2024 Announced
Baseline Conforming Loan Limit Value Will Increase to $766,550 The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac (the Enterprises) will acquire in 2024. In most of the United States, the 2024 CLL value for one-unit properties will be $766,550, an increase of…
FHFA: Final Rule Announced Modifying Certain Provisions of the Enterprise Regulatory Capital Framework
Today, the Federal Housing Finance Agency (FHFA) published a final rule that amends several provisions of the Enterprise Regulatory Capital Framework (ERCF) for Fannie Mae and Freddie Mac (the Enterprises). “The Enterprise Regulatory Capital Framework is a critical tool to ensure the Enterprises responsibly manage their risks,” said FHFA Director Sandra L. Thompson. “Finalizing these…
HUD: FHA Helps Over 765,000 Families Buy Homes and Maintains a Strong Insurance Fund
Annual Report to Congress for fiscal year 2023 highlights impact of insurance premium reduction, assistance for approximately two million struggling homeowners, and a well-capitalized Mutual Mortgage Insurance Fund. The Federal Housing Administration (FHA) published today its annual report to Congress describing the work of its Single Family mortgage insurance programs in fiscal year 2023 and the performance…
FHFA: 2024 Multifamily Loan Purchase Caps Announced for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) announced today that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise, for a combined total of $140 billion to support the multifamily market. To ensure a strong focus on affordable housing and underserved markets, FHFA will…