HUD: FHA Launches New Automated Underwriting System for Single Family Forward Mortgages
New FHA Catalyst functionality offers lenders the option to obtain automated mortgage insurance eligibility indicators directly from FHA The Federal Housing Administration (FHA) today announced the launch of its new automated underwriting system (AUS) for use by lenders originating mortgages for FHA insurance. Built on the FHA Catalyst technology platform, the new FHA Catalyst: Single Family…
FHFA: Temporary Policy Allowing Purchase of Qualified Loans in Forbearance Extended
November 30, 2020 is new expiration date To support homeowners and mortgage lenders, the Federal Housing Finance Agency (FHFA) has approved an extension of the current temporary policy that allows for the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria as set by Fannie Mae and Freddie Mac (the Enterprises). The…
HUD: FHA Extends COVID-19 Forbearance Request Timeframe for Single Family Homeowners
Extension through December 31, 2020, ensures homeowners who need assistance can continue to obtain mortgage payment forbearance Today, the Federal Housing Administration (FHA) announced it is extending the date for single family homeowners with FHA-insured mortgages to request an initial forbearance from their mortgage servicer to forbear their mortgage payments for up to six months. Homeowners experiencing…
FHFA: Rule for New Enterprise Products and Activities Proposed
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comments on a notice of proposed rulemaking that requires Fannie Mae and Freddie Mac (the Enterprises) to provide advance notice to FHFA of new activities and obtain prior approval before launching new products. Additionally, the proposed rule establishes revised criteria for determining whether a new…
HUD: FHA Launches FHA Catalyst Electronic Multifamily Application Submission Capabilities
First FHA Catalyst module for Multifamily lenders will eliminate paper-based submissions of FHA insurance applications The Federal Housing Administration (FHA) today announced the availability of the first module on its FHA Catalyst technology platform for Multifamily lenders doing business with FHA. The FHA Catalyst: Multifamily Applications module will allow eligible Multifamily lenders to electronically submit applications for FHA…
FHFA: Buying Loans in Forbearance and COVID-Related Loan Processing Flexibilities Further Extended
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend buying qualified loans in forbearance and several loan origination flexibilities until October 31, 2020. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on September 30,…
FHFA: Second Quarter Foreclosure Prevention and Refinance Report Released for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) today released its second quarter 2020 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 252,014 foreclosure prevention actions in the second quarter of 2020, bringing to 4.68 million the number of troubled homeowners who have been helped during conservatorships. Of…
FHFA: Updates to Public Use Databases for Fannie Mae and Freddie Mac Announced
The Federal Housing Finance Agency (FHFA) has released new and revised datasets for the Public Use Databases (PUDBs) of single-family and multifamily mortgage acquisitions by Fannie Mae and Freddie Mac (the Enterprises). New data for 2019 are now available as well as final versions of data for 2018 that replace the interim files uploaded last September….
OCC: New Report Shows Mortgage Performance Decline in Second Quarter 2020
The Office of the Comptroller of the Currency (OCC) reported the performance of first-lien mortgages in the federal banking system declined during the second quarter of 2020. The OCC Mortgage Metrics Report, Second Quarter 2020 showed 91.1 percent of mortgages included in the report were current and performing at the end of the quarter, compared to 96.1…
FHFA: Input Requested on Strategic Plan for Fiscal Years 2021-2024
The Federal Housing Finance Agency (FHFA) is requesting input on its Strategic Plan: Fiscal Years 2021-2024 (the Plan), which establishes new goals that are necessary for FHFA to fulfill its statutory duties, including responsibly ending the conservatorships of Fannie Mae and Freddie Mac (the Enterprises). The Plan formalizes FHFA’s, and its regulated entities’, new direction by updating the Agency’s…