FHFA: Conforming Loan Limits for 2023 Announced
Baseline Conforming Loan Limit Will Increase to $726,200 The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of…
HUD: Flood Insurance Options Increased for Homeowners with FHA Mortgages Living in Special Flood Areas
Federal Housing Administration to allow private flood insurance policies on insured single-family mortgages in special flood hazard areas The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), is announcing today that effective December 21, 2022, it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to…
FHFA: Report Issued on Enterprise Single-Family Guarantee Fees in 2021
The Federal Housing Finance Agency (FHFA) today issued its annual report on single-family guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises). Guarantee fees are intended to cover the credit risk as well as administrative and operational costs that the Enterprises incur when they acquire single-family loans from lenders. In particular, the report…
HUD: FHA Annual Report Showcases Continued Leadership Efforts in Affordable Housing Financing
Annual report to Congress highlights FHA’s leading role in supporting affordable home financing for first-time homebuyers and borrowers of color, providing assistance to struggling homeowners, and addressing housing supply and affordability. The Federal Housing Administration (FHA) today released its Annual Report to Congress on the financial status of its Mutual Mortgage Insurance Fund (MMI Fund), which is…
FHFA: FY 2022 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2022. For the fourteenth consecutive year, FHFA received an unmodified audit opinion on its…
HUD: Secretary Encourages Aspiring Homebuyers to “Stay Ready” During Virtual House Party
HUD Launches Dedicated Webpage to Connect People to Pathways to Homeownership U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge hosted the virtual event “House Party – Let’s Talk About the House” on Tuesday, November 1 to educate Millennials and Generation Z young adults about the government resources available to buy a…
HUD: Secretary Fudge to Host Virtual “House Party – Let’s Talk About the House” to Support Millennial and Gen Z Pathways to Homeownership
Event to Help and Dispel Common Myths in Homebuying, Amplify Federal Homebuying Programs The U.S. Department of Housing and Urban Development’s (HUD) Secretary Marcia L. Fudge will hold a virtual ‘House Party’ to share information on available federal resources and bust common myths around the homebuying process. This event is to help encourage young adults…
FHFA: Targeted Pricing Changes to Enterprise Pricing Framework Announced
The Federal Housing Finance Agency (FHFA) today announced targeted changes to Fannie Mae and Freddie Mac’s (the Enterprises) guarantee fee pricing by eliminating upfront fees for certain borrowers and affordable mortgage products, while implementing targeted increases to the upfront fees for most cash-out refinance loans. As part of the pricing changes stemming from the Agency’s…
FHFA: New Uniform Appraisal Dataset (UAD) Aggregate Statistic Data File Published
The Federal Housing Finance Agency (FHFA) today published its new Uniform Appraisal Dataset (UAD) Aggregate Statistics Data File. FHFA also launched UAD Aggregate Statistics Dashboards on its website to provide user-friendly visualizations of the newly available data. “As home valuations are a vital component of the mortgage process, publishing transparent, aggregate data on appraisals provides…
FHFA: Validation of FICO 10T and Vantage Score 4.0 Announced for Use by Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) today announced the validation and approval of both the FICO 10T credit score model and the VantageScore 4.0 credit score model for use by Fannie Mae and Freddie Mac (the Enterprises). “Today’s decision will benefit borrowers and the Enterprises, along with maintaining safety and soundness,” said FHFA Director Sandra…