Here’s why the FHFA is not a fan of principal reduction

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Items Tagged with 'Mel Watt'

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Mortgage insurer ratings safe despite potential FHFA rule changes

S&P: Transition period provides sufficient time
July 25, 2014
Despite the FHFA's decision to revise its private mortgage insurance requirements, Standard & Poor’s Rating Services forecasts that insurers will maintain strong ratings in the immediate term.
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Here's how HARP misses the mark

5 years later and steady rate declines
July 9, 2014
While HARP is there to help the borrowers that were reliable during the financial crisis, there is one big problem in the program.
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HARP remains set to expire in 2015

Rumors of extensions doused
July 8, 2014
Respite industry speculations, Federal Housing Finance Agency Director Mel Watt did not extend the Home Affordable Refinance Program Tuesday.
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HARP to extend until 2016?

Falls in line with HAMP
July 7, 2014
At the end of June, U.S. Treasury Secretary Jacob Lew announced the extension of HAMP until at least Dec. 31, 2016. Now there is debate over whether or not the same extension will be applied to HARP.
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FHFA: Are you eligible for HARP?

Chart shows massive amount of eligible borrowers left
June 25, 2014
In the first quarter of 2014, the number of mortgages refinanced through the program was 76,930. Meanwhile, in the state of Florida alone, there are 82,435 loans eligible for HARP now. But the FHFA is quickly shifting into overdrive to change this.
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Wells Fargo expects G-fee change next year

Analysts predict a 10bp increase
June 6, 2014
Wells Fargo’s analysts suggest that the FHFA may increase the G-fees by 10 basis points on average, as was announced last year, “but with less risk-based pricing than in the FHFA’s previous proposed g-fee increases.”
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FHFA considers G-fee increase

Agency seeks industry comment on increase’s impact
June 5, 2014
On Thursday, the FHFA followed through on Director Mel Watt’s previous comments and released its request for input on the g-fees. “FHFA’s Request for Input includes questions related to g-fee policy and implementation regarding the optimum level of g-fees required to protect taxpayers and implications for mortgage credit availability,” the agency said. Mortgage analysts predicted this recently and expect changes to more than just the G-fees to come.
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Massachusetts sues FHFA, Fannie and Freddie over foreclosure buybacks

Alleges GSEs violate state’s buyback rules
June 2, 2014
Several weeks ago, Massachusetts Attorney General Martha Coakley sent a letter to Mel Watt, the director of the Federal Housing Finance Agency, saying that her office was considering legal action against the FHFA over violations of state laws allowing nonprofits to buy foreclosures and return them to the evicted homeowner. And now, Coakley hopes actions will speak louder than words.
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FHFA's Watt tells C-Span that he’s not worried about GSE investors

May 16, 2014
Now that Federal Housing Finance Agency director Mel Watt has finally broken his silence, he’s letting it be known he isn't concerned about Fannie and Freddie shareholders.
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Massachusetts AG threatens to sue FHFA over buyback law

GSEs in violation of law designed to keep homeowners in homes
May 14, 2014

“Our office is considering all available legal avenues, including litigation, to ensure compliance with Massachusetts law, should FHFA fail to promptly amend its policies to allow Fannie Mae and Freddie Mac to participate in credible buyback programs,” Massachusetts Attorney General Martha Coakley said in a letter to FHFA Director Mel Watt.


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