FHFA: 2018-2020 Housing Goals for Fannie Mae and Freddie Mac Proposed
Washington, D.C. – In accordance with the provisions of the Housing and Economic Recovery Act of 2008, the Federal Housing Finance Agency (FHFA) today proposed a rule that would establish new housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2018 through 2020. FHFA is requesting comment on the proposed rule. When finalized,…
FHFA: Deadline Extended to July 31 on Request for Input to Improve Access to Credit for Borrowers with Limited English Proficiency
Washington, DC – The Federal Housing Finance Agency (FHFA) is extending the deadline from July 10 to July 31 to allow more time for interested parties to provide input on issues facing qualified mortgage borrowers with Limited English Proficiency (LEP) throughout the mortgage life cycle process, including mortgage lending and servicing. FHFA announced on May…
FHFA: First Quarter 2017 Foreclosure Prevention Report
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its first quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 49,104 foreclosure prevention actions in the first quarter of 2017, bringing the total number of troubled homeowners helped since conservatorships to nearly 3.9 million. Of the foreclosure…
ABA: Mortgage Borrowers Want Both Technology and In-Person Services
Survey also found down payment, student debt preventing home purchases WASHINGTON — A majority of Americans (60 percent) agree that while they use online resources for research, they prefer to apply for a mortgage in person, according to a new survey from the American Bankers Association. Seventeen percent said they would prefer to apply for…
FHFA: 2016 Report to Congress Released Including Exams of Freddie, Fannie & FHLBs
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its 2016 Report to Congress. The statutorily-required report provides information about FHFA’s 2016 examinations of Fannie Mae, Freddie Mac (the Enterprises), 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks’ Office of Finance. The report also describes FHFA’s actions as conservator of Fannie Mae…
HUD: National Homeownership Month Kicks Off
WASHINGTON – The Trump Administration proclaimed June as National Homeownership Month, a time to reflect upon the impact owning a home has on household wealth, neighborhood stability and the nation’s broader economic health. The theme of National Homeownership Month 2017 is “Find Your Place in a New Era of Homeownership.” Read the President’s Homeownership Month Proclamation….
FHFA: Index Shows Mortgage Rates Decreased in April 2017
Washington, DC – Nationally, interest rates on conventional purchase-money mortgages decreased from March to April, 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 3.97 percent for loans closed in late April, down 15 basis points from 4.12…
CFPB: Seeking Comment on Plan for Assessing the ATR/QM Rule
Today, we released our plan to assess the effectiveness of the Ability-to-Repay/Qualified Mortgage rule (ATR/QM rule). We are asking the public to comment on our plan, to suggest sources of data, and generally to provide information that would help with the assessment. We see conducting the assessment as an opportunity. Conducting the assessment will advance…
FHFA: U.S. House Prices Rise 1.4 Percent in First Quarter
Washington, D.C. – U.S. house prices rose 1.4 percent in the first quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.0 percent from the first quarter of 2016 to the first quarter of 2017. FHFA’s seasonally adjusted monthly index for March was up 0.6 percent…
FHFA: Refinance Volume Continued to Slow in First Quarter
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today reported that just over 510,000 refinances were completed in the first quarter of 2017, compared to more than 750,767 in the fourth quarter of 2016. FHFA’s first quarter Refinance Report also shows that 3 percent or 13,425 of the mortgages refinanced from January through March were…