Items Tagged with 'Federal Housing Finance Agency'

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Freddie Mac launches "Deep MI" credit risk-sharing pilot program

Plans to share even more risk with mortgage insurers
Freddie Mac announced Monday that it is prepared to take the next step in the government’s continuing efforts to shed some of the credit risk facing the government-sponsored enterprises through a pilot program featuring deep mortgage insurance. So, what does this mean? More mortgage risk will now be transferred to private mortgage insurance companies.
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The Fed’s true final push for #HARPNow?

HARP not over yet
But wait there’s more! The Federal Housing Finance Agency is trying one last time, or so we think, to capture the remaining 323,000 homeowners who could save an average of $2,400 per year through the Home Affordable Refinance Program. As a result, the agency revived its hashtag #HARPNow.
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Moody's: Bond investors will also benefit from FHFA HARP replacement

Refi replacement will bolster GSE risk-sharing deals
The Federal Housing Finance Agency shook up the mortgage world recently when it announced not only that it planned to extend the Home Affordable Refinance Program for nine additional months, but also that it planned to replace HARP with a new mortgage refinance program. A new report from Moody’s suggests that the new refinance program is also beneficial to the investors that buy up some of the credit risk tied to the mortgages.
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FHFA: Mortgage interest rates continued falling in July

Multiple indices show drop in interest rates
As readers of HousingWire well know, mortgage interest rates trended lower over the last few months, especially in the wake of the United Kingdom’s vote to leave the European Union. A new report from the Federal Housing Finance Agency provides more evidence of the decline in mortgage interest rates, as several indices reviewed by the FHFA show that mortgage rates fell in July.
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Federal court tosses #Fanniegate suit seeking to inspect Freddie Mac's records

Tim Pagliara, leader of Investors Unite, wanted a look at Freddie's books
In what is already being called a "blow to shareholders," a federal court in Virginia ruled Tuesday that a Freddie Mac shareholder does not have the right to inspect the government-sponsored enterprise's financial records, thanks to the conservatorship agreements that went into effect when the government took over Freddie Mac and Fannie Mae.
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Barclays triumphs in toxic mortgage bond row with U.S. Bank, FHFA

Court rules U.S. Bank, FHFA waited too long to file claims
Barclays Bank and a defunct subprime lending unit of the company are off the hook for allegedly misrepresenting the quality of the mortgages that made up a $619 million mortgage bond after the Supreme Court of the state of New York ruled that U.S. Bank and the Federal Housing Finance Agency waited too long to file a lawsuit against Barclays.
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Obama administration presents a look at life after HAMP

Feds provide a preview of what's next
Time is ticking on the government's Home Affordable Modification Program and Home Affordable Refinance Program, as both will end on Dec. 31, 2016. In a comprehensive report published Monday, the Treasury, HUD, and the FHFA say that while these programs are set to end this year, the government plans to continue working with the mortgage industry on various loss mitigation programs moving forward, but caution that the industry needs to be prepared to do more.
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FHFA's Watt: Congress needs to handle housing finance reform

Fannie Mae, Freddie Mac overseer responds to calls to end GSE status quo
In recent weeks, several different groups tried to exert public pressure on the Federal Housing Finance Agency in an attempt to end the housing finance system's current status quo. Up to this point, the FHFA and its director, Mel Watt, did not respond directly to these efforts. But now, Watt is responding to those public salvos, albeit much more quietly than the trade groups or the politicians.
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