FHFA: Index Shows Mortgage Rates Increased in November 2017
Nationally, interest rates on conventional purchase-money mortgages increased from October to November, 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 4.05 percent for loans closed in late November, up 7 basis points from 3.98 percent in October….
FHFA: House Price Index Up 0.5 Percent in October 2017
U.S. house prices rose in October, up 0.5 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.3 percent increase in September was revised upward to 0.5 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages…
FHFA: Third Quarter 2017 Foreclosure Prevention Report Shows Foreclosure Preventions Top 3.9 Million
Hurricanes Impact Delinquency Rate The Federal Housing Finance Agency (FHFA) today released its third quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 41,465 foreclosure prevention actions in the third quarter of 2017, bringing the total number of troubled homeowners helped to 3,972,689 since the start of the conservatorships…
Federal Reserve: Expectations for Supervised Institutions Regarding Amended Regulation C
Expectations for Supervised Institutions Regarding Amended Regulation C Applicability to Community Banking Organizations: This guidance applies to all institutions supervised by the Federal Reserve, including those with total consolidated assets of $10 billion or less. This letter provides guidance on the Federal Reserve Board’s supervisory expectations in connection with early examinations of Board-supervised institutions for…
FDIC: Home Mortgage Disclosure Act Statement on Institutions’ Good Faith Compliance Efforts
Printable Format: FIL-63-2017 – PDF (PDF Help) Summary: The FDIC is issuing a statement regarding the evaluation of financial institutions’ compliance with the Home Mortgage Disclosure Act (HMDA), implemented by Regulation C. Specifically, for HMDA data collected in 2018 and reported in 2019, the FDIC does not intend to require data resubmission unless data errors…
CFPB: Public Statement on Home Mortgage Disclosure Act Compliance
Bureau Does Not Intend to Assess Penalties for Errors in Data Collected in 2018, and Plans to Reconsider Aspects of Mortgage Data Rule The Consumer Financial Protection Bureau (CFPB) today issued a public statement announcing that the Bureau does not intend to require data resubmission unless data errors are material or assess penalties with respect…
HUD: Guide Released to Help Struggling Homeowners Avoid Foreclosure
Guide helps borrowers and disaster victims to understand mortgage options and avoid scams The U.S. Department of Housing and Urban Development today released the Homeowners Guide to Success as part of a public-private partnership between federal agencies and industry partners. The guide provides homeowners with information on the critical first steps to take if they…
FHFA: Request Issued for Input on Fannie Mae and Freddie Mac Credit Score Requirements
The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) to obtain feedback about the operational and competition considerations of changing Fannie Mae and Freddie Mac’s (the Enterprises) current credit score requirements. The credit scores being evaluated by FHFA and the Enterprises are Classic FICO, FICO 9 and VantageScore 3.0. The Enterprises…
HUD and Census Bureau: Residential Construction Activity in November 2017
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for November 2017. Building Permits: Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,298,000. This is 1.4 percent (±1.7 percent)* below the revised…
FDIC: History of the Agency’s Response to the Financial Crisis Publication Released
The Federal Deposit Insurance Corporation (FDIC) on Monday released a history of the financial crisis focusing on the agency’s response and lessons learned from its experience. Crisis and Response: An FDIC History, 2008–2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises—first, the…