FHFA: Inaugural Mission Report for 2021 Issued on Economic Development and Affordable Housing Efforts
Inaugural report highlights regulated entities’ progress in supporting greater access to financing for targeted economic development and affordable, sustainable, and equitable housing The Federal Housing Finance Agency (FHFA) today released its inaugural Mission Report that describes the activities of Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Banks (FHLBanks) in 2021…
FHFA: Final Rule Announced Requiring Fannie Mae and Freddie Mac to Submit Annual Capital Plans
The Federal Housing Finance Agency (FHFA) today published a final rule that supplements the Enterprise Regulatory Capital Framework (ERCF) by requiring Fannie Mae and Freddie Mac (the Enterprises) to submit annual capital plans to the Agency and provide prior notice for certain capital actions. The final rule also incorporates the stress capital buffer determination from…
HUD: 20th Anniversary of National Homeownership Month Commemorated
President Biden issues Proclamation marking June as National Homeownership Month The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) mark June as National Homeownership Month following President Biden’s proclamation issued on Tuesday. This year’s Homeownership Month celebrates the 20th year of this opportunity to amplify the benefits of homeownership and…
FHFA: U.S. House Prices Rise 18.7 Percent over the Last Year; Up 4.6 Percent from the Fourth Quarter 2021
U.S. house prices rose 18.7 percent from the first quarter of 2021 to the first quarter of 2022 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up 4.6 percent compared to the fourth quarter of 2021. FHFA’s seasonally adjusted monthly index for March was up 1.5 percent from February. “High appreciation rates continued across housing markets during…
HUD: Disaster Assistance Announced for Kansas Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to State and local recovery efforts in the areas of Kansas affected by severe winter storms and straight-line winds from March 17 to March 22, 2022. On May 25, President Biden issued a major disaster declaration for the counties of…
HUD: FHA New “Green Mortgage Insurance Premium” Reductions Announced for Residential Care Facilities Meeting Industry-Recognized Green Building Certifications
Reductions of mortgage insurance premiums for “green” Section 232 Residential Care Facilities supports Administration’s environmental objectives and HUD’s Climate Action Plan. The Federal Housing Administration (FHA) announced on Wednesday, May 18 that it intends to implement significant reductions in the upfront and annual mortgage insurance premiums (MIP) it charges for most mortgage insurance categories under the Section…
CFPB: Report Released on Mortgage Servicing Metrics
Hundreds of thousands of borrowers are still behind on loans after COVID-19 mortgage protections, forbearance end Today, the Consumer Financial Protection Bureau (CFPB) published a report examining mortgage servicers’ responses to the COVID-19 pandemic. The data, collected across 16 large servicers from May through December 2021, reveal homeowners continue to face significant risks and challenges…
Joint Statement on Continued Efforts to Connect Homeowners to Pandemic Relief Issued
The Secretaries of Housing and Urban Development Marcia L. Fudge, Veterans Affairs Denis McDonough, Agriculture Tom Vilsack and Treasury Janet L. Yellen are calling on servicers of federally backed mortgages to make every effort to ensure no individual or family unduly experiences unnecessary hardship or foreclosure while assistance is available under the Homeowner Assistance Fund. The…
HUD: Disaster Assistance Announced for New Mexico Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to State and local recovery efforts in the areas of New Mexico affected by wildfires and straight-line winds beginning on April 5, 2022, and continuing. On May 4, President Biden issued a major disaster declaration for the counties of Colfax,…
HUD: FHA Takes Additional Steps to Expand Affordable Housing Supply through FHA’s Claims without Conveyance of Title
Mortgagee Letter supports the Biden-Harris Administration’s efforts to increase the supply of affordable housing and expand access to homeownership for low- and moderate-income homebuyers. The Federal Housing Administration (FHA) announced on Thursday that it published Mortgagee Letter (ML) 2022-08, Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title. The ML adds an initial 30-day exclusive…