FHFA Archives

FHFA annual report highlights GSE actions on affordable housing

April 19, 2024 mpsingh No Comments Real estate Fannie Mae, FHFA, Freddie Mac, highlights, Housing, report

The Federal Housing Finance Agency (FHFA) this week released its annual Housing Mission Report, offering insights into the actions the agency took in 2023 on a host of issues. These include oversight of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, mortgage purchases designed to improve affordability for low-income homeowners, vendor partnerships and investments [...]read moreFHFA annual report highlights GSE actions on affordable housing

Proposal would allow Freddie Mac to acquire closed-end second mortgages

April 17, 2024 mpsingh No Comments Real estate FHFA, Freddie Mac, mortgages, proposal

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. This would offer borrowers an alternative way to access their home equity without surrendering a first mortgage with a more favorable interest rate than [...]read moreProposal would allow Freddie Mac to acquire closed-end second mortgages

GSEs will not count buyer agent commissions as IPCs

April 16, 2024 mpsingh No Comments Real estate commissions, Fannie Mae, FHA, FHFA, Freddie Mac, National Association of Realtors

Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday. The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent [...]read moreGSEs will not count buyer agent commissions as IPCs

Race-based appraisal gaps have narrowed in recent years: FHFA

April 13, 2024 mpsingh No Comments Real estate FHFA, Years

The Federal Housing Finance Agency (FHFA) this week published a blog illustrating that appraisal gaps between white, Hispanic/Latino and Black households have diminished since the 2022 announcement of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) action plan, which the White House claims to be “empowering consumers with new tools and greater [...]read moreRace-based appraisal gaps have narrowed in recent years: FHFA

Jamie Dimon calls for “mortgage regulatory simplification”

April 11, 2024 mpsingh No Comments Real estate FHFA, Mortgage

Jamie Dimon evidently believes in the KISS principle when it comes to mortgage — keep it simple, stupid. In his annual letter to shareholders, the influential head of JPMorgan Chase wrote that “we can fix the housing and mortgage” markets. “For example, mortgage regulations around origination, servicing and securitization could be simplified, without increasing risk, in [...]read moreJamie Dimon calls for “mortgage regulatory simplification”

State financial regulators and FHFA enter mortgage information sharing agreement

April 10, 2024 mpsingh No Comments Real estate Fannie Mae, FHFA, financial, Freddie Mac, Mortgage, sharing, state

The Conference of State Bank Supervisors (CSBS) and the Federal Housing Finance Agency (FHFA) have signed onto a memorandum of understanding to formally share information between each other related to nonbank mortgage companies. “The [MOU] establishes substantive information sharing protocols between state financial regulators and FHFA, improving the ability to coordinate on market developments, identify [...]read moreState financial regulators and FHFA enter mortgage information sharing agreement

CFPB considers ban on charging buyers for lender’s title policy

April 10, 2024 mpsingh No Comments Real estate charging, Fannie Mae, FHFA, lenders, title

The Consumer Financial Protection Bureau is considering a ban on mortgage banks charging homebuyers for the lender’s title insurance policy, according to a report by Bloomberg. Lender’s title policies protect lenders from issues that may arise with the title of the property, but they are paid by the borrower. The homebuyer also has the option [...]read moreCFPB considers ban on charging buyers for lender’s title policy

Fannie Mae: prohibited/subjective language in appraisal reports has declined

April 10, 2024 mpsingh No Comments Real estate Fannie Mae, FHFA, Language, Mae, reports

Fannie Mae this month issued a recent progress report on its ongoing effort to scan appraisal reports for “prohibited or subjective language,” updating stakeholders on a process that began in 2021 to rid appraisal reports and valuation decisions of verbiage that could be construed as contributing to appraisal bias. In February, Fannie Mae issued a [...]read moreFannie Mae: prohibited/subjective language in appraisal reports has declined

FHFA appoints artificial intelligence czar

April 9, 2024 mpsingh No Comments Real estate Fannie Mae, FHFA, Intelligence

The Federal Housing Finance Agency (FHFA) announced this week that it has appointed Tracy Stephan to serve as its chief artificial intelligence officer (CAIO), adding the position to her existing duties leading the agency’s Office of Financial Technology. Stephan is described as a 25-year veteran in the mortgage technology space, where she “leads a team [...]read moreFHFA appoints artificial intelligence czar

Republicans look to codify tri-merge credit model into law

April 6, 2024 mpsingh No Comments Real estate Credit, FHFA, Law, Model

Rep. Scott Fitzgerald (R-Wis.) has introduced a bill to the U.S. House of Representatives that would codify the “tri-merge” credit model into law, a rebuke to the Federal Housing Finance Agency (FHFA)’s recent efforts to transition to a “bi-merge” model that would require only two credit reports to be pulled instead of three. This is [...]read moreRepublicans look to codify tri-merge credit model into law