Items Tagged with 'Federal Housing Finance Agency'

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Moody's: Privatizing Fannie Mae, Freddie Mac would cost "hundreds of billions"

Report predicts disruption to secondary market
Steve Mnuchin, President-elect Donald Trump’s choice to lead the Department of the Treasury, recently said that “getting Fannie and Freddie out of government ownership” is one of the Trump administration’s top 10 priorities. But just how realistic is that plan? According to a new report from Moody’s Investors Service, privatizing the GSEs is not only unlikely to happen any time soon, it’s also hugely cost-prohibitive, and it would be a negative for bond investors as well. Other than that, Mrs. Lincoln, how was the show?
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Freddie Mac takes next step to single securitization

Implements Release 1
Freddie Mac just implemented the next step of the single securitization process. Freddie Mac is now using CSP for data acceptance, issuance support and bond administration activities released to current single-class, fixed-rate, mortgage backed securities. The timeline for the implementation for Release 2 is still to come.
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FHFA: Deceleration in home prices short-lived

Some state increases top 10%
Home prices picked up speed in the third quarter, showing that the slow down seen earlier this year was temporary. Home prices increased even as much as 10% in several states. An economist from the Federal Housing Finance Agency explains the significant home price increase.
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There’s less than 1 year left for more than 200,000 HARP eligible borrowers

Rates only project to increase
The deadline, while it has constantly moved, is quickly approaching for struggling borrowers to take advantage of the government’s Home Affordable Refinance Program. The Federal Housing Finance Agency is working extra hard to make sure it reaches every eligible borrower before the Sept. 30, 2017 deadline. This is the latest update on the program’s performance.
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Saying goodbye to HAMP isn’t the end for struggling homeowners

This is what the change means to Fitch Ratings
Dec. 31, 2016 marks the end of an important seven-year government program. The Home Affordable Modification Program launched to save struggling homeowners who are behind on their mortgage, and will soon come to an end. It’s not all downhill come Jan. 1 though. The New Year brings the start of a new system that can still be beneficial for all parties involved.
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Community lenders renew call to allow Fannie Mae, Freddie Mac to rebuild capital

GSEs reported combined net income of more than $5 billion in 3rd quarter
In the wake of both of the government-sponsored enterprises reporting multi-billion dollar profits in the third quarter, the Community Home Lenders Association is renewing its call to allow Freddie Mac and Fannie Mae to rebuild capital, saying an additional draw from the Treasury could lead to a restriction of mortgage credit availablity.
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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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