Items Tagged with 'Federal Housing Finance Agency'

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Fannie Mae announces plans to securitize re-performing loans

Mortgage bonds built on previously delinquent loans coming later this year
Less than two weeks after the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will be reducing the principal on as many as 33,000 delinquent or underwater borrowers, Fannie Mae announced it now plans to begin securitizing loans that were once delinquent.
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FHFA announces new rules for non-performing loan buyers

Buyers must evaluate certain borrowers for modification
According to the FHFA, analysts and advocates have raised concerns that investors may walk away from the most challenging loans in NPL pools, leaving vacant houses in neighborhoods and contributing to blight and decay.
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FHFA principal reduction plan garners mixed reaction from housing industry

Some love it, others not so much
It’s only been a short time since the Federal Housing Finance Agency shook up the housing industry by announcing that it plans to begin offering principal reductions to certain borrowers, but reactions from both sides are beginning to trickle in. Some in the housing industry love it, some believe that the FHFA's plan doesn't go far enough, while others are concerned that the program sets a "dangerous precedent."
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FHFA makes it official: Principal reduction is coming

Plan is 'final crisis-era' modification program
A day that many in the housing industry thought would never come is finally and actually here, as the FHFA is making it official – widespread principal reduction is coming. In what it is calling a "final crisis-era modification program," the FHFA announced Thursday that it will be launching a principal reduction program for some borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac.
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New York Attorney General pushes FHFA for principal reduction

Schneiderman wants Fannie, Freddie to cut mortgage balances
New York Attorney General Eric Schneiderman joins the chorus calling for Fannie Mae and Freddie Mac to reduce the mortgage balances of struggling borrowers. Schneiderman sent a letter to FHFA Director Mel Watt this week, stating that principal reduction "should be deployed broadly and quickly to homeowners in desperate need of this relief from the continuing damage caused by the housing crisis."
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From HW Magazine

Introducing credit risk-sharing to FHA loans

Addressing the split personality of credit risk-sharing in the mortgage market
The FHA finds itself in a delicate position of balancing public policy interests against actuarial soundness of its $1 trillion plus Mutual Mortgage Insurance Fund. These twin policy goals at times run counter to each other, occasionally spilling over into the conventional-conforming market via FHA premium changes that create market distortions and adverse selection problems for the FHA.
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