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Items Tagged with 'Federal Housing Finance Agency'

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Fannie and Freddie officially approve 3% down payment mortgages

Key differences between both GSEs secondary products
Brena Swanson
It's here. Fannie Mae and Freddie Mac officially unveiled each of their 97% loan-to-value offerings for mortgages they securitize. And while both are working to expand the credit box for first-time homebuyers, there are key differences between what each one requires.
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FHA announces 2015 loan limits

Limits for highest and lowest cost areas remain unchanged
Ben Lane
The Federal Housing Administration announced its 2015 conforming loan limits. Spoiler alert: Not much changed.
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FHFA announces conforming loan limits for 2015

Only 46 counties increase; remainder of U.S. is unchanged
Ben Lane
According to the FHFA, the areas that will see conforming loan limit increases include the Denver, Colorado metro area; the Boston, Massachusetts metro area; the Baltimore, Maryland metro area; the Nashville, Tennessee metro area and the Seattle, Washington area.
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FHFA COO found not guilty of threatening Ed DeMarco

Stood accused of threatening to shoot former FHFA acting director
Ben Lane
Richard Hornsby, the chief operating officer of the Federal Housing Finance Agency, was found not guilty of threatening former FHFA Acting Director Ed DeMarco. Hornsby stood accused of threatening to kidnap or injure a person after he allegedly threatened DeMarco at the FHFA’s headquarters in late April.
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GSEs officially update representation and warranty policies

Analysts say impact of long-awaited changes may be minimal
Ben Lane
Fannie Mae and Freddie Mac both announced changes to their respective representation and warranty policies, following through on an announcement made by Federal Housing Finance Agency Director Mel Watt at the Mortgage Bankers Association Annual Convention & Expo in October.
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Genworth: G-fee increases to hurt mortgage lending

53% say increases will result in fewer loans
Brena Swanson
The Federal Housing Finance Agency announced in June that it was seeking industry opinion on Fannie Mae and Freddie Mac guarantee fees, and while the results of this have not been revealed, a new survey of mortgage bankers gives a preview into what lenders expect to happen with increases.
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FHFA Director: "Significant challenges remain" for Fannie Mae and Freddie Mac

Mel Watt makes first appearance before Congress
Brena Swanson
The FHFA director went before the U.S. Senate Committee on Banking, Housing, and Urban Affairs Wednesday morning to give an update on Fannie Mae, Freddie Mac and the Federal Home Loan Bank. And while the government-sponsored enterprises have come a long way since the crisis, FHFA Director Mel Watt noted in his hearing that they still have a ways to go.
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Redwood Trust enters into risk-sharing agreement with Fannie Mae

REIT hopes this is the “first of many such transactions”
Ben Lane
Under the agreement, Redwood will absorb the first 1% of credit losses on $1.1 billion of new conforming loans it plans to sell to Fannie in the fourth quarter.
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FHFA's Watt: Realtors are next step for expanding mortgage credit

Housing Director urges agents to “actively encourage their customers”
Brena Swanson
Now that Federal Housing Finance Agency Director Mel Watt announced his plans to expand the credit box, he went to next source of strengthening homeownership: Realtors.
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Fannie, Freddie form new company to develop single GSE bond

Common Securitization Solutions to build Common Securitization Platform
Ben Lane
Fannie Mae and Freddie Mac have established Common Securitization Solutions, a jointly owned limited liability company, with the goal of facilitating the design and eventual implementation of the single GSE bond through the Common Securitization Platform.
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